10-Year U.S. Treasury Yield Rises to 1.62%
The 10-year U.S Treasury yield rose 12 basis points to 1.62% on Monday. Similarly, US stocks were up modestly shortly after midday Monday after morning gains faded, while government bond yields jumped in the first trading session of 2022.
The S&P 500 rose 0.2% to 4,776.65 with the Nasdaq Composite advancing 0.6% to 15,743.52 and the Dow Jones Industrial Average climbing 0.2% to 36,410.63.
New daily COVID-19 infections across the world have doubled in about a week to almost 1.5 million on average, according to the New York Times.
Anthony Fauci, the US government’s top infectious disease expert, was cited as saying Sunday hospitalizations, which are not rising as fast, are a more important barometer than reported cases for the severity of the omicron wave
Elsewhere, Pfizer (PFE) and BioNTech (BNTX) received expanded emergency use authorization for COVID-19 vaccine booster shots for children as young as 12 from the US Food and Drug Administration as US cases surge to record highs.
Meanwhile, the IHS Markit US manufacturing index for December was revised lower to 57.7 from the flash reading of 57.8, right on expectations in a Bloomberg survey.
US construction spending rose 0.4% in November after a similar October gain, compared with a forecast for an increase of 0.7% in a Bloomberg poll. West Texas Intermediate crude oil was up $0.65 to $75.93 per barrel. # 10-Year U.S. Treasury Yield Rises to 1.62%
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