The narrative of low interest rates in the long term — one that’s become familiar after the 2008 Great Financial Crisis — is falling apart.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe10-year Treasury yield hit 4.8%9.61 million job openings in August
, well above the estimate of 8.8 million and 700,000 more than July's figure. However, hires rose just 35,000 from July to touch 5.857 million last month. And the number of quits, a measure of confidence in finding a new job after leaving a previous position, was little changed at 3.6 million.rose by 45% in the first half of 2023 compared with the same period last year, said CBRE, a commercial real estate company.
"US Equity markets are likely in a bottoming process," Fundstrat head of technical strategy Mark Newton wrote,"and I feel that time-wise, lows could likely be in place sometime this week." But if rates continue rising, it's not just long-held beliefs that will be broken. Stocks could test new bottoms even further into the year., said of the central bank."It's just too much pain.
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