US stocks rise as Treasury yields fall amid flight to safety and dovish Fed comments

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US stocks jumped on Monday and bond ETFs surged after a safety trade was sparked by Hamas attacking Israel.

Article originally published by Business Insider. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

10 Oct 2023

US stocks jumped on Monday after a safety trade was sparked by Hamas attacking Israel over the weekend.

The bond market was closed on Monday, but Treasury yields look set to decline on Tuesday based on the price action of bond ETFs and futures contracts tied to the Treasury note. Traders expect a 14-basis-point decline in the 10-year yield, according to futures data from the CME.

Recent comments from Federal Reserve members also leaned dovish as they acknowledged the recent surge in long-term bond yields and suggested that further interest rate hikes may not be necessary.

Fed Vice Chair Philip Jefferson said in a speech to the National Association for Business Economics in Dallas on Monday that the Fed is «in a position to proceed carefully in assessing the extent of any additional policy firming that may be necessary.»

«I would want the public to know that we're going to be mindful, whatever is happening, and we will use data in