Good morning. Souring mood in the bond market, China’s efforts to revive its stock market and Apple suffers from another slump. Here’s what people are talking about.
The mood is rapidly souring in the world’s bond market, raising the stakes for Friday’s much-anticipated US monthly jobs data. A surge in long-term yields to their highest since November has seen the Treasury market shed all its gains for 2023, crushing hopes for a rebound from last year’s record 12.5% loss. The move has spilled over to bond markets from Europe to Asia Pacific as traders pull back bets on the world’s biggest economy falling into recession. One catalyst for the pain came Wednesday, with a stronger-than-forecast reading on US private sector jobs creation.