Stock index futures remained higher Wednesday after the August durable goods report showed an unexpected rise.
August headline durable goods orders rose 0.2%, compared with forecasts for a 0.5% decline. Core orders rose 0.4%, stronger than the 0.1% expected.
See how yields are trading across the curve.
Yesterday, “Bloomberg’s aggregate bond index hit a fresh low for 2023 so far,” Deutsche Bank’s Jim Reid said. “The 10yr Treasury yield (hit the) highest closing level since 2007.”
“Similarly, the 30yr yield … also hit a new cycle high of 4.68%. Moreover, it was real yields that continued to drive those moves, leading to another set of milestones across the curve. Among others, yesterday saw the 2yr real yield close at 3.19%, the 5yr real yield close at 2.43%, and the 10yr real yield close at 2.22%. In every case, that’s their highest level since the GFC, and it demonstrates how the impact of higher borrowing costs is still filtering through into the economy.”