Wall Street accelerates sales after inflation data and rebound in bond yields

Wall Street intensified sales two hours before the close this Thursday, amid a new rise in the yields of Treasury bonds linked to the inflation data September, which were worse than expected.

At 2:00 p.m. local time (18:00 GMT), the Dow Jones Industrial Average fell 0.86%; the selective S&P 500 0.90% and the Nasdaq index 0.84%, in a clear negative reaction from investors, who began the session with caution.

The yield on the benchmark 10-year Treasury bond rose to 4.722% at that time, approaching the peak of 4.8% reached earlier this month, while that of the 2-year paper rose to 5.069%. .

“Any time yields rise, especially in a very short period of time as we have seen in these last two months, or even today, that has an immediate negative correlation with security prices”explained Sonu Varghese, vice president of the Carson Group firm, to CNBC.

The inflation rate in the US refused to fall for the third consecutive month, and although it remained stable, at 3.7%, the figure was above analysts’ expectations, of 3.6%; also in the monthly rate, which was 0.4% compared to the expected 0.3%.