Good afternoon and welcome to Markets Desk.
Global bond markets are in full rout mode, with ten-year Treasury yields touching levels not seen since two thousand eight. The relentless selloff is driving up borrowing costs for households, businesses, and governments worldwide, and traders are increasingly asking whether this marks a structural shift rather than a temporary repricing.
That pressure is landing squarely on equities. The S&P five hundred is off nearly half a percent, the Nasdaq down roughly seven tenths, and the Dow shedding similar ground at midday. Oracle is among the harder-hit names, falling more than five percent as rising long-duration yields compress the valuations of cash-flow-heavy technology companies most severely.
Meanwhile, on the manufacturing front, the ISM factory index edged lower in August while input prices continued climbing. That combination — softening activity alongside stubborn cost pressure — is exactly the stagflationary signal that keeps policymakers up at night, and it is giving the bond market even less reason to rally back.
That's the tape. Markets Desk, signing off the floor.
