WALL STREET DIPS AS BENCHMARK US BOND YIELDS BREACH 5%

Wall Street dipped on Friday as investors neared the finish line of a week marked with mixed earnings, warnings of possible further rate hikes from the Federal Reserve, and worries of escalation of the Middle East conflict. The yield on 10-year U.S. Treasury notes briefly crossed the 5% barrier late Thursday for the first time since July 2007, and is on course for its largest weekly surge since April 2022, powered by solid economic data.

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