- Reuters
Bond yields climb, stocks under pressure as Fed cut doubts resurface
U.S. Treasury yields pushed to a near four-week peak on Wednesday, lifting their Asia-Pacific counterparts and the dollar while pressuring equities, as data sowed new doubts about the timing and extent of Federal Reserve rate cuts. Benchmark U.S. 10-year yields ticked as high as 4.556% in Tokyo trading hours, a level not seen since May 3, following poorly received two- and five-year Treasury auctions overnight. Investors were also caught off-guard by a sharp improvement in a U.S. consumer confidence measure for May. Economists had predicted a fourth straight month of weaker confidence, particularly after a tepid reading for the University of Michigan's analogous survey result from Friday.
- MSNBC
Maddow Blog | Rachel Maddow reenacts key debunking of Trump defense argument
An important argument in Donald Trump's criminal defense in his New York trial is that a phone call made by Michael Cohen was too brief, roughly a minute and a half, to have included what Cohen said it did. The prosecution showed in real time that not only could it be cone in a minute and a half, it could be done in 49 seconds. Rachel Maddow's read of that portion of the transcript also comes in at under a minute.
- Investor's Business Daily
Dow Jones Futures Fall After Surging Nvidia Masks Market Weakness; Cava Slides Late
While Nvidia continued to drive the Nasdaq higher, the Dow undercut support. Hot IPO Cava fell late on earnings.
