US stocks rebound, US Treasury yields retreat

News Snapshot:

The yield on the US 10-year note slid 6 basis points to 4.43 per cent at 12.44pm in New York. While several Federal Reserve officials signalled that higher interest rates may be needed to quell inflation, traders continue to bet that there will be no rate increase in either November or December. The CME Fedwatch Tool shows that 72.6 per cent of traders see rates held steady in November and 57.7 per cent expect no change in December. On Wall Street, sentiment shifted. After having surged the previous session, the volatility index shed near 8 per cent. Meta and Nvidia...