Welcome to Markets Desk, where we break down what's moving markets right now.
The Treasury is turning heads in the fixed income space, lifting the composite yield on Series I savings bonds to five point five one percent for bonds purchased through April of next year — the highest rate on these government-backed instruments since November of two thousand twenty two. With inflation still a persistent force, savers are finding renewed reason to look beyond traditional bank accounts.
Shifting to equities, Citigroup CEO Jane Fraser is pushing back against the bears. Speaking at a conference last week, Fraser told CNBC she does not believe the recent technology-driven S&P five hundred selloff signals anything deeper or prolonged. She characterized it as a shallow correction, stopping well short of the kind of structural unraveling that defined the dot-com era.
And in the cattle pits, live cattle futures extended their rally into Tuesday, closing two dollars twenty two to three dollars sixty two higher on the session, building on Monday's strength. Feeder cattle added as much as four dollars forty five across the board. Cash trade has yet to fully develop this week as showlists are still being compiled.
That's the tape. Markets Desk, signing off the floor.
