Welcome to Markets Desk, here's where things stand.
The ten-year Treasury yield surged to a nineteen-year high of five point one three percent Wednesday, sending the dollar index to a one and three quarter month peak. That yield spike sharpened the dollar's interest rate advantage over global peers, drawing capital flows into dollar-denominated assets and lifting the DXY by more than half a percent on the session.
Turning to energy, natural gas futures climbed nearly two percent to a two and a half month high as traders positioned ahead of Thursday's EIA storage report. The consensus points to a draw that would meaningfully shrink the current US gas surplus, and the market is pricing that in now rather than waiting for the confirmation.
Meanwhile, AppLovin shares fell four percent after a market analyst argued the adtech company is losing ground in its effort to expand market share. That's a notable reversal for a stock that had been a standout performer in the digital advertising space, and it signals that investor patience around its growth narrative may be thinning.
That's the tape. Markets Desk, signing off the floor.
