01:15:47 EDT Fri 17 May 2024
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Globe/wire say TSX rebounds, but still under 20,000

2023-09-29 09:01 ET - In the News

The Globe and Mail reports in its Friday edition that North American stock indexes ended higher on Thursday as investors assessed the latest batch of economic data and as a surge in Treasury yields stalled ahead of a key U.S. inflation report. A Reuters dispatch to The Globe says that investors were also watching developments in Washington to see whether U.S. lawmakers could avert a government shutdown. The recent move in Treasury yields to 16-year highs has loomed over the stock market, which has pulled back after the Federal Reserve last week signalled a hawkish long-term outlook for interest rates. The 10-year Treasury yield paused at around 4.6 per cent Thursday, bringing "relief," said Matt Stucky at Northwestern Mutual Wealth Management. Canada's 10-year yield eased three basis points to 4.065 per cent after earlier touching its highest level since December, 2007, at 4.165 per cent. "Markets in general the last few days have been really, really choppy," Mr. Stucky said. "A little bit of a countertrend rally is to be expected after three or four pretty sharply negative days." The S&P/TSX Composite Index ended up 154.76 points at 19,590.74, after posting on Wednesday its lowest closing level in three months.

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