US Yields Surge Again | Fed Members expect another rate hike | Oil at $101 | Opening Bell

Core Development: US Yields Surge Again | Fed Members expect another rate hike | Oil at $101 | Opening Bell

Market & Financial Impact: Wall Street cooled off, with the Dow falling 0.7%, while the S&P 500 and Nasdaq declined 0.2% each, pulling back from their all-time highs. Treasury yields spiked again, with the US 10-year yield rising to 5.36% intraday, its highest level since 2002, while the 30-year yield touched 5.73%, a fresh 24-year high. Yields retraced from their peaks after a successful $39 billion US Treasury auction. September FOMC minutes showed that a majority of policymakers backed one more rate hike by the end of 2026. The dollar held on to its gains, with the Dollar Index rising 0.4% to 102.26, while Brent crude edged higher towards $101 a barrel as the IEA agreed to release diesel reserves on priority. Asian markets are trading lower, while Gift Nifty indicates a cautious start. In India, the market snapped its two-day gaining streak, with the Nifty slipping back below 22,700 as the RBI’s 25-basis-point rate hike and cautious commentary weighed on sentiment. The rupee weakened against the dollar, slipping to a five-month low of 96.78 per dollar. FIIs were net sellers of ₹6,121.37 crore in equities, while DIIs were net buyers of ₹4,596.57 crore.

Actionable Insight: 🏛️ Policy & Macro: Interest rate, inflation, or regulatory changes affecting broad market valuations.