Stocks mostly fall as oil prices and bond yields rise
Stock markets mostly fell and oil prices climbed on Thursday as US Treasury bond yields hit multi-year highs, driven partly by a lack of progress in ending the Middle East war. After a down day in Europe, Wall Street stocks began the session firmly in negative territory, but received a positive jolt around midday with a Reuters news agency report that Washington and Tehran had made headway on an accord to reopen the Strait of Hormuz. "It felt like that lasted for an hour-and-a-half," said B Riley Wealth Management's Art Hogan, adding that markets need greater evidence of concrete movement towards a deal. Stocks levelled off after the positive jump. The S&P 500 declined 0.02 percent to end the session at 7,704 points. The Nasdaq edged up 0.01 percent to 26,939 points, while the Dow Jones Industrial Average declined 0.3 percent to 51,349 points. But the benchmark US 10-year Treasury yield rose to its highest level since 2007, and the 30-year yield reached its highest since 2004 as oil prices jumped. Japan's 10-year yield jumped to a 30-year high during Asia trading hours. "It is rare to get movements this volatile in sovereign bond markets, which is another sign that sovereign debt is going through an uncomfortable...
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