Treasuries fell while big-tech fueled stock gains, with investors looking for clues on the outlook for Federal Reserve policy in Thursday's inflation data.
US 10-year yields have risen above 4% after briefly falling below that level. The S&P 500 extended its gains from the previous week. Bitcoin was trading near $46,000 before the US Securities and Exchange Commission approved exchange-traded funds that hold the digital asset. Oil fell as a surprise buildup in US stockpiles mitigated the threat of Red Sea escalation to supplies.
President of the Federal Reserve Bank of New York, John Williams, stated that monetary policy is now tight enough to guide inflation back to the target, but that policymakers need more evidence of cooling inflation before cutting interest rates. The upcoming consumer-price index is expected to provide an early indication of the disinflationary trend.