PIMCO Portfolio Manager Erin Browne joins Yahoo Finance Live to discuss the 10-year Treasury yield, market swings, recessionary risks, consumer spending, and the health care sector.
(Bloomberg) -- US stocks and Treasuries rallied on Wednesday after the Bank of England’s decision to stage a market intervention boosted UK bonds and tentatively calmed markets.Most Read from BloombergApple Ditches iPhone Production Increase After Demand FaltersGermany Suspects Sabotage Hit Russia’s Nord Stream PipelinesMacKenzie Scott Files for Divorce From Science Teacher HusbandS&P 500 Roars Back From Six-Day Slide; Bonds Surge: Markets Wrap‘Where’s Jackie?’ Biden Asks After Dead Lawmaker at
Many had turned to bonds as a more conservative investment than stocks, and so the steep declines even in what are considered to be ultra-safe Treasury bonds have been especially painful. Inflation has prompted the Federal Reserve to boost short-term interest rates aggressively, and that has had an impact on many longer-term bonds as well. On Wednesday morning, the yield on the 10-year Treasury briefly moved above 4% for the first time since 2008.