Live news: Tyson Foods warns soft demand for beef will linger into … – Financial Times

Stocks and government bonds fall as investors worry over US rate rises

George Steer in London and Jaren Kerr in New York

US stocks and government bonds sank and the dollar strengthened on Monday after last week’s blockbuster jobs report raised the likelihood of further interest rate increases.

Wall Street’s blue-chip S&P 500 closed 0.6 per cent lower and the tech-heavy Nasdaq Composite lost 1 per cent as the most recent non-farm payrolls report continued to dim sentiment.

Concerns that borrowing costs may still have further to rise were stirred on Monday after Raphael Bostic, president of the Fed’s Atlanta branch, said the January jobs report could lead to a higher peak in interest rates.

Bostic’s warning on Monday afternoon prompted a sell-off in US government bonds to pick up steam. The rate-sensitive two-year Treasury yield was up 0.19 percentage points to 4.49 per cent, while the yield on the benchmark 10-year Treasury rose 0.12 percentage point to 3.65 per cent.

US…

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