(News Bulletin 247) – Wall Street evolved on an uncertain note on Friday, the equity markets suffering from a new episode of tension on the bond compartment.

At the end of the morning, the Dow Jones granted itself an increase of 0.1% to 35,220.3 points, but the Nasdaq Composite fell 0.7% to 13,634.6 points.

The trend is weighed down by the persistence of a selling trend on the bond market, despite the publication of indicators confirming the scenario of a continuation of the disinflation movement in the United States.

According to the Labor Department, producer prices rose only 0.3% in July, while their increase excluding food, energy and commercial services reached only 0.2%.

While these figures reinforce the prospect of an imminent end to the monetary tightening cycle, the yield on 10-year US Treasury bonds, whose sudden surge had already penalized risky assets last week, rose to 4.16% following at the publication of these figures, not far from highs of 15 years.

‘We believe bond yield expectations should be at higher levels given the resilience of the economy, which suggests that monetary policy could turn out to be tighter than expected,’ warns Barclays. .

The rise in bond yields resulted in a rebound in the dollar, which pushed the euro back into the 1.0955 zone, improving the return on the greenback.

In this context, six of the 11 major sector indices of the S&P 500 are in the green, with energy-related stocks (+1.3%) performing best thanks to the strength of oil prices.

On the NYMEX, a barrel of Texas light crude (WTI) continues to rise, rising 0.7% to 83.4 dollars, a new peak since last fall.

Over the week as a whole, the Dow is currently posting a gain of around 1.6%, but the Nasdaq is at this stage posting a weekly decline of more than 1.7%.

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