itemprop=description content=Market News
NEW YORK/LONDON, Oct 4 - A rout in government bond markets deepened on Wednesday with benchmark U.S. yields hitting fresh 16-year highs as investors bet that persistently high interest rates will slow world growth and dampen the appetite for riskier assets.
"The sell-off has been really dramatic. It's been rapid. It's been huge," Rupert said."The market was so over-sold that it was looking for a catalyst to rally on and found it in ADP." The market ignored a survey from the Institute for Supply Management that showed the U.S. services sector slowing in September as new orders fell to a nine-month low. But inflation remained elevated and employment slowed only gradually.
On Wall Street, the Dow Jones Industrial Average rose 0.01% and the S&P 500 gained 0.41% but the Nasdaq Composite added 0.96%.
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