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Gold slips below $1,700 to three-week low as Biden's spending plan lifts yields
22 days ago | By Business Insider
Summary List Placement Gold prices dropped below $1,700 for the first time in three weeks, under pressure as long-dated Treasury yields and the US dollar rose on expectations that President Joe Biden will launch efforts to secure a $4 trillion infrastructure package.
The latest decline in gold prices stands to bring the metal's loss to more than 11% so far this year. Gold fell as much as 2.1% to $1,678.30 an ounce on Tuesday before paring the loss to 1.6%.
"Gold just hasn't been able to get out of its way this quarter. Despite concerns over inflation, the yellow metal has been weak as...
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Treasury yields rise to highest in 14 months as vaccinations accelerate and Biden prepares to unveil new spending plan
22 days ago | By Business Insider
Summary List Placement Borrowing costs gauged by the 10-year Treasury yield hit a 14-month high Tuesday, with investors pricing in expectations of higher inflation and a stronger US economy as the government prepares to announce a new multi-trillion spending plan and more Americans receive COVID-19 vaccinations.
The 10-year yield marched up to 1.778% from 1.712% on Monday, extending this year's fast-paced gain from about 0.9%. Alongside the gains have been pullbacks in technology shares that have largely surged in value since last March as investors sought exposure to companies that would...
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US stocks dip as yields rise on Biden's spending plan and pace of economic recovery
22 days ago | By Business Insider
Summary List Placement
US stocks dipped Tuesday as the yield on the 10-yr US Treasury rose to a 14-month high.
Investors are waiting for Biden to detail his infrastructure spending plan and revamped tax policy in an address Wednesday.
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US stocks were slightly lower at the open Tuesday morning and bond yields rose as investors looked to Biden's latest spending plan and continued to assess the fallout from the Archegos Capital Management implosion.
The 10-year US Treasury yield continued its march higher, rising 5...
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