US stocks gained despite continued upside in long-term Treasury yields, although some shorter-end yields were lower – Newsquawk Daily Asia-Pac Market Open

US stocks gained on Monday with all major indices closing higher, and broad momentum was seen across sectors, in which nearly all gained aside from Real Estate, while Materials, Communication Services and Health Care led the advances. Treasuries sold off, and the curve bear steepened, with long-end yields leading the move higher. There was little reaction to the US ISM Services PMI report, which fell marginally below forecasts as activity measures slowed M/M, while Prices accelerated and Employment returned to expansionary territory. The rise in yields supported the Dollar, while the Euro underperformed amid lingering French fiscal concerns and further…