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153 winners of Nobel and World Food prizes seek new ways to grow food to meet surging global need

153 winners of Nobel and World Food prizes seek new ways to grow food to meet surging global need 150 150 admin

DES MOINES, Iowa (AP) — More than 150 recipients of the Nobel and World Food prizes released an open letter Tuesday calling for a dramatic increase in research and a commitment to new food distribution efforts with a goal of producing more crops and avoiding a global hunger crisis in coming decades.

The letter notes that an estimated 700 million people now are “ food insecure and desperately poor” but that without a “moonshot” effort to grow more and different kinds of food, far more people will be in dire need of food because of climate change and population growth.

“As difficult and as uncomfortable as it might be to imagine, humanity is headed towards an even more food insecure, unstable world by mid-century than exists today, worsened by a vicious cycle of conflict and food insecurity,” states the letter, signed by 153 recipients of the two prizes. “Climate change is projected to decrease the productivity of most major staples when substantial increases are needed to feed a world which will add another 1.5 billion people to its population by 2050.”

Corn production in Africa is expected to decline and much of the world could see more soil degradation and water shortages, the letter says.

“We are not on track to meet future food needs. Not even close,” it adds.

The letter grew from a meeting of food accessibility experts last fall. Despite the potential gloom, it holds out hope for an optimistic vision of the future if people take needed actions. The letter says that a dramatic increase in research funding coupled with more effective ways to share information and distribute food could prevent a hunger crisis.

Brian Schmidt, who won the Nobel Prize in physics in 2011, said the need to dramatically increase food production in the coming decades is a huge challenge. He calls it a “destination with destiny,” but one that can be achieved with proper funding to enhance existing knowledge as well as global leadership.

“It is an imminently solvable problem. It is a problem that will affect billions of people in 25 years. It is a problem that to solve it, there are no losers, only winners,” Schmidt said in an interview. “All we have to do is do it.”

Schmidt said he hopes governments in the U.S., Europe and elsewhere can commit to solving the problem, but he thinks private groups like the Gates Foundation may need to take the lead in funding initial steps that will draw attention and prompt action by politicians.

The letter calls for “transformational efforts” such as enhancing photosynthesis in essential crops such as wheat and rice, developing crops that are not as reliant on chemical fertilizers and lengthening the shelf life of fruits and vegetables.

Cynthia Rosenzweig, a climate research scientist at NASA who won the World Food Prize in 2022, said in an interview that researchers are already making progress toward breakthroughs, but their work needs to be turbocharged with more funding and emphasis from world leaders.

“It’s not that we have to dream up new solutions,” Rosenzweig said. “The solutions are very much being tested but in order to actually take them from the lab out into the agriculture regions of the world, we really do need the moonshot approach.”

The term moonshot refers to an unprecedented effort, stemming from President John F. Kennedy’s call in 1962 for Americans to rocket to the Moon. Rosenzweig, noting she works for NASA, said meeting the food needs of a growing population will take the kind of commitment the U.S. made in achieving Kennedy’s goal of reaching the Moon.

“Look at how the scientists had to come together. The engineers had to be part of it. The funding had to come together as well as the general public,” she said. “That base of support has to be there as well.”

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Oil shipping rates surge after US sanctions tighten global fleet

Oil shipping rates surge after US sanctions tighten global fleet 150 150 admin

By Florence Tan and Siyi Liu

SINGAPORE (Reuters) -Supertanker freight rates jumped after the U.S. expanded sanctions on Russia’s oil industry, sending traders rushing to book vessels to ship supply from other countries to China and India, shipbrokers and traders said.

Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new U.S. sanctions on Russian producers and tankers designed to curb the world No. 2 oil exporter’s revenue.

Many of the newly targeted vessels, part of a “shadow fleet”, have been used to ship oil to India and China, which snapped up cheap Russian supply that was banned in Europe following Moscow’s invasion of Ukraine. Some of the tankers have also shipped oil from Iran, which is also under sanctions.

The latest U.S. action means an estimated 35% of some 669 dark fleet tankers involved in shipping Russian, Venezuelan and Iranian oil have been hit with sanctions by either the U.S., UK or EU, according to analysis by Lloyd’s List Intelligence.

Freight rates for Very Large Crude Carriers (VLCCs) that can carry 2 million barrels of crude across major routes jumped after Unipec, the trading arm of Asia’s largest refiner Sinopec, chartered several supertankers on Friday, the sources said.

Unipec also last week snapped up several sweet crude cargoes from Europe and Africa, including 2 million barrels of Norwegian Johan Sverdrup, 1 million barrels of Senegal’s Sangomar crude, Ghana’s Ten Blend, Angolan Djeno and others, traders said.

“They must look for alternative crudes. That is the primary driver for the rally (in freight rates),” said Anoop Singh, global head of shipping research at Oil Brokerage.

On a daily basis, a shipbroker said, the rate on the Middle East to China route, known as TD3C, has surged 39% since Friday to $37,800, the highest since October.

Shipping rates for Russian oil shipments to China have also jumped following the sanctions.

Freight rates for Aframax-sized tankers to ship ESPO blend crude from Russia’s Pacific port of Kozmino to North China more than doubled on Monday to $3.5 million as shipowners requested massive premiums due to limited tonnages available for that route, S&P Global Commodity Insights data showed.

Adding to tightness, sanctioned tankers are stranded outside China’s eastern Shandong province, unable to discharge following a ban imposed by Shandong Port Group before Washington’s announcement on Friday.

Tanker analytics firm Vortexa estimated that more than 85% of Russian crude voyages into Shandong were conducted by the newly sanctioned tankers.

Analysts said tanker availability could tighten further as traders look for unsanctioned vessels to ship Russian and Iranian crude.

“We expect new ships will be pulled into the shadow fleet over the coming months, many of which will be new to this trade, tightening supply in the non-sanctioned freight market,” Kpler analysts said in a note.

The rate for VLCCs from the Middle East to Singapore has gained the most, up worldscale (WS) 11.15 from Friday to WS61.35, another shipbroker said. Worldscale is an industry tool to calculate freight charges.

On the Middle East to China route, freight jumped to WS59.70, up WS10.40, while the rate for VLCCs carrying West African oil to China rose WS9.55 to WS61.44, the second shipbroker said.

Shipping crude from the U.S. Gulf to China will now cost $6.82 million per voyage, up $360,000 since last week, he said.

(Reporting by Florence Tan, Siyi Liu, Chen Aizhu and Jeslyn Lerh in Singapore; Additional reporting by Ron Bousso and Jonathan Saul in London; Editing by Tony Munroe, Sonali Paul and Jan Harvey)

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Japanese investors exit foreign assets for third straight month in Dec

Japanese investors exit foreign assets for third straight month in Dec 150 150 admin

(Reuters) – Japanese investors net sold foreign stocks and bonds for a third straight month in December, wary of rising U.S. bond yields, while some also booked profits amid sharp fluctuations in the yen.

The investors sold overseas equities worth a net 310.7 billion yen ($1.97 billion) following net disposals of 1.22 trillion yen, a month ago, according to data from Japan’s Ministry of Finance. They also ditched 1.22 trillion yen worth of bonds, the most since October, 2024.

Japanese trust accounts continued their trend, offloading a net 1.52 trillion yen worth of foreign stocks, marking their fourth consecutive month of net sales. Conversely, investment trust management companies and life insurers acquired 909.9 billion yen and 137.5 billion yen worth of shares, respectively.

In 2024, Japanese investors were net sellers of foreign equities, offloading about 3.48 trillion yen, with the bulk of sales – stocks worth 3.9 trillion yen – in the last quarter. Conversely, they purchased overseas bonds worth 4.16 trillion yen throughout the year.

Towards the year-end, investors scaled back their expectations for the Federal Reserve’s interest rate cuts, influenced by the potential for increased inflation due to the tariff, migration, and tax policies of the incoming U.S. President-elect Donald Trump’s administration.

Last week, minutes from the Fed’s Dec. 17-18 meeting highlighted officials’ increasing concerns about persistent price pressures and the potential effects of policies from the Trump administration.

This week, the U.S. dollar index reached a more than two-year high, and the benchmark 10-year yield climbed to 4.805%, its highest since November 2023, amid shifting expectations for Fed’s rate cuts.

The Bank of Japan’s data showed local investors sold a net U.S. equities worth 1.87 trillion yen in the year to November. They also divested 471 billion yen worth of European stocks and British stocks worth 220 billion yen during the same period.

($1 = 157.4200 yen)

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Rashmi Aich)

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J&J buys Intra-Cellular in $14.6 billion deal, delving further into central nervous system disorders

J&J buys Intra-Cellular in $14.6 billion deal, delving further into central nervous system disorders 150 150 admin

Johnson & Johnson will spend more than $14 billion to delve further into the treatment of central nervous system disorders by purchasing Intra-Cellular Therapies.

The health care giant said Monday that it will pay $132 in cash for each share of Intra-Cellular. That represents a 39% premium to Intra-Cellular’s closing price of $94.87 on Friday.

Shares of both companies climbed Monday after announcing the deal.

Intra-Cellular Therapies Inc. makes Caplyta, a once-daily pill for treating adults with schizophrenia and depression tied to bipolar disorder. The drug brought in $175 million in last year’s third quarter as total prescriptions increased 38%.

Intra-Cellular said last fall it was expanding its sales force to target growth opportunities with primary care doctors. The company also is seeking U.S. Food and Drug Administration approval to use the drug as supplemental treatment for adults with major depressive disorder.

Wall Street expects sales of the drug to grow past $1 billion next year and top $2.5 billion by 2028, according to the data firm FactSet.

Intra-Cellular’s pipeline of drugs under development also includes a potential treatment for anxiety and psychosis and agitation tied to Alzheimer’s disease. That drug is in mid-stage testing.

J&J, based in New Brunswick, New Jersey, says it will pay for the deal, valued at about $14.6 billion, with a combination of cash and debt. The companies expect the deal to close later this year.

Monday’s announcement comes a few days after Intra-Cellular settled a patent lawsuit over when a cheaper, generic version of Caplyta can enter the U.S. market. The company said Friday that drugmaker Sandoz Inc. can start selling a generic version in 2040 or earlier under circumstances it didn’t detail in a brief statement.

The company has submitted the deal to federal regulators for review, and it still has other patent cases pending in federal court.

Shares of Intra-Cellular, based in Bedminster, New-Jersey, jumped about 34% to $127.10 Monday. J&J’s stock edged up 1% to $143.45

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Fox News names Will Cain to replace Neil Cavuto in weekday afternoon lineup

Fox News names Will Cain to replace Neil Cavuto in weekday afternoon lineup 150 150 admin

NEW YORK (AP) — Fox News Channel is promoting weekend host Will Cain to the weekday afternoon slot vacated by longtime personality Neil Cavuto, who left the network last month.

Cain has been a host of the weekend edition of the “Fox & Friends” morning show. A lawyer, Cain had a radio show and contributed to television programming at ESPN before joining Fox in 2020. Previously, he was an analyst at CNN and host at the Blaze.

A weekday show is coveted and doesn’t often open up at Fox. His 4 p.m. Eastern show will be slotted directly in front of the political talk show “The Five,” frequently Fox’s most-watched program.

While Cavuto’s show often had a business tilt, owing to the host’s background, that won’t be the case with Cain. He hosts a weekday podcast on news and sports, which will continue, and Fox says Cain will bring some of his podcasting style to his television show, likely meaning more extended interviews.

Cain said he’ll use his background in news, law, entertainment and business “to help our viewers better understand the headlines through thought-provoking content and analysis every weekday afternoon.” His show will debut next Tuesday.

Fox contributor Charlie Hurt will replace Cain on the weekend “Fox & Friends,” starting Saturday.

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Pfizer going ‘all in’ on obesity drug development, CEO Bourla says

Pfizer going ‘all in’ on obesity drug development, CEO Bourla says 150 150 admin

(Reuters) -U.S. drugmaker Pfizer is going “all in” to develop its experimental obesity drug and has been recruiting more experts in that area, Chief Exeuctive Officer Albert Bourla said at the JPMorgan Healthcare Conference on Monday.

“We are all in … we are building our teams … We are recruiting experts in obesity over the last, let’s say, 12, 13, 14 months. So that are helping us now make better and more sound decisions,” Bourla said.

Pfizer is testing a once-a-day form of its oral drug, danuglipron, and expects to offer patients a more convenient alternative to injections.

Bourla said that the company could begin a late-stage study of the drug by the second half of this year, if it succeeds in the mid-stage trial.

“We expect that we’ll have a competitive profile,” he added.

Pfizer’s drug could be the second oral treatment to be launched after Eli Lilly if “we stick to our timeslines,” Bourla said.

(Reporting by Bhanvi Satija in Bengaluru and Michael Erman in New York; Editing by Alan Barona)

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Philips CEO sees subdued China sales this year

Philips CEO sees subdued China sales this year 150 150 admin

By Patrick Wingrove and Michael Erman

SAN FRANCISCO (Reuters) – Philips CEO Roy Jakobs said he still expects subdued demand in China this year due to healthcare anti-corruption efforts by the Chinese government that has hurt revenue there for Western companies.

Jakobs in a Sunday interview said volatility in the Chinese market could increase this year depending on the foreign trade policies adopted by President-elect Donald Trump, who takes office Jan. 20. Trump has previously said he will hit China with new tariffs on the first day of his presidency.

“Anti-corruption is still continuing on the ground. We still see audits happening and a lot of scrutiny (over purchases),” Jakobs told Reuters at the annual JPMorgan health conference in San Francisco. “I think 2025 will still be a challenging year for China.” He previously said the Chinese have been auditing past purchases.

The Dutch healthcare technology company’s Chinese sales had topped out above 13% of its total revenue earlier in the decade. Philips’ offerings in China include diagnostic and monitoring equipment, as well as personal health products and appliances.

Due to the government anti-corruption efforts and slower growth in China, Jakobs said he now expects the biggest Asian market to be around 10% of the company’s revenue.

Philips is expected to report more than 18 billion euros ($18.39 billion) in 2024 revenue when it issues its full-year financial results next month.

Jakobs said he does expect the China market to recover based partly on meetings with Chinese government officials during a visit there in November, including regional officials who said they were still welcoming foreign businesses and investment but wanted to ensure fair procurement was taking place.

Beijing has been running a campaign targeting bribery of doctors that disrupts business and scuttles hospital deals with international healthcare companies.

Philips was one of several global companies to warn about the health of the Chinese economy last October, saying demand in the country had slumped significantly because of a deterioration of consumer confidence combined with the anti-corruption campaign.

Merck & Co also said in October that its results had been hit by weak sales of HPV vaccine Gardasil in China that were likely to carry over into 2025 – and could last the whole year – as the shot’s distributor there reduces inventories amid lackluster demand.

AstraZeneca’s president of Chinese operations was arrested last year. The company has said it does not know basic facts about the detention, such as why he is being investigated.

($1 = 0.9790 euros)

(Reporting by Patrick Wingrove in San Francisco and Michael Erman in New York; editing by Caroline Humer and Bill Berkrot)

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Factbox-LA blaze damage likely to be largest wildfire insured loss in US history

Factbox-LA blaze damage likely to be largest wildfire insured loss in US history 150 150 admin

(Reuters) – The Los Angeles wildfires, which have reduced entire neighborhoods to smoldering ruins and left an apocalyptic landscape, could become the costliest wildfires in U.S. history in terms of insured losses if analysts’ estimates of up to $20 billion materialize.

Dangerously high winds were expected to resume on Monday in Los Angeles, potentially hampering efforts to extinguish two stubborn wildfires that have claimed the lives of at least two dozen people.

The Los Angeles wildfire loss estimates are critical as they underscore the escalating financial risks posed by climate-related disasters, highlighting potential implications for the insurance industry and the broader economic resilience.

AccuWeather forecasts total economic losses from the disaster to range between $135 billion and $150 billion, signaling a challenging recovery and likely surging homeowners’ insurance costs.

Here is an overview of the top 10 costliest wildfires ever to hit the U.S.:

Rank Name Year State Adjusted

insured losses

in 2024 dollars

1 Los Angeles 2025 California $20 billion

wildfires based on

preliminary

estimates

2 Camp Fire 2018 California $12.76 billion

3 October Fire 2017 California $11.34 billion

Siege

4 Woolsey Fire 2018 California $5.36 billion

5 Oakland 1991 California $3.98 billion

firestorm

6 August Complex 2020 California $3.64 billion

7 Fire Siege 2020 California $3.09 billion

8 Southern 2017 California $2.94 billion

California

wildfires

9 Dixie Fire 2021 California $2.88 billion

10 Glass Fire 2020 California $2.78 billion

Biggest losses globally from natural disasters:

Year Affected Event Insured Economic

country Losses losses

2005 U.S. Hurricane Katrina $105 $225 billion

billion

2022 U.S. Hurricane Ian $64 $124 billion

billion

2011 Japan Tohoku earthquake $49 $293 billion

billion

2017 U.S. Hurricane Irma $45 $77 billion

billion

2012 U.S. Hurricane Sandy $39 $96 billion

billion

2017 U.S. Hurricane Harvey $39 $115 billion

billion

2017 U.S. Hurricane Maria $38 $99 billion

billion

2021 U.S. Hurricane Ida $36 $85 billion

billion

1992 U.S. Hurricane Andrew $35 $59 billion

billion

1994 U.S. Northridge $32 $93 billion

earthquake billion

** Sources: The Swiss Re Institute, Reuters reports, National Centers for Environmental Information, media reports, RBC Capital Markets

** Note: Loss data has been adjusted for inflation

(Reporting by Manya Saini and Noor Zainab Hussain in Bengaluru)

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US extends deadline on Nippon’s bid for US Steel, offering some hope that the deal is not dead

US extends deadline on Nippon’s bid for US Steel, offering some hope that the deal is not dead 150 150 admin

HARRISBURG, Pa. (AP) — The bid by Japan’s Nippon Steel to buy U.S. Steel may have a new lease on life after the Biden Administration extended a deadline for the Japanese steelmaker to abandon plans to acquire the storied Pittsburgh company after President Joe Biden blocked the deal.

The new deadline, now in mid-June, was viewed by U.S. Steel — and investors — as an opportunity for the companies to complete the acquisition, even though President-elect Donald Trump, who takes office in a week, also opposes the deal.

Biden nixed the acquisition this month citing a potential threat to national security, though the U.S. Committee on Foreign Investment in the United States, known as CFIUS, failed to reach a consensus on the security issue.

“We are pleased that CFIUS has granted an extension to June 18, 2025 of the requirement in President Biden’s Executive Order that the parties permanently abandon the transaction,” U.S. Steel said in a statement Sunday. “We look forward to completing the transaction, which secures the best future for the American steel industry and all our stakeholders.”

Shares of U.S. Steel rose almost 7% when markets opened Monday.

The proposed deal kicked up an election year political maelstrom across America’s industrial heartland and quickly drew vows by Biden and Trump from the campaign trail in a critical battleground state to block the deal.

Even after the election, Trump wrote on social media in December that he is “totally against” U.S. Steel being bought by a foreign company and said he would block the deal as president. He reiterated that stance this month after it was blocked by Biden.

However, a CFIUS composed of Trump appointees and Trump himself may be free to allow the deal to go through, or negotiate new terms.

Dennis Unkovic, a Pittsburgh lawyer who works on international business transactions, including deals in which CFIUS approval was required, said a new CFIUS and a new president are not legally bound by Biden’s decision.

CFIUS giving the parties an extra six months to unwind the deal is unusual, Unkovic said. It wasn’t immediately clear why CFIUS extended the deadline, but Unkovic pointed to reports that Biden’s CFIUS was divided over whether it was a security threat.

“Extending this from the 30 days to the 180 days was a sign that there were people in the Biden administration that would like somebody to take a second look at this,” Unkovic said.

CFIUS’ job is to see if there are workarounds or modifications to a deal to allow it to go through, and rarely is a deal turned down, Unkovic said. After CFIUS takes another look at it, it could still be up to Trump to decide.

“Now how he comes down on it, who knows?” Unkovic said.

Nippon Steel and U.S. Steel have insisted that the deal presents no national security problem for the U.S., said Biden’s decision to block it was a violation of legal due process and a political calculation.

The two steel companies sued in federal court three days after Biden announcement and accused the head of the Steelworkers union and a rival steelmaker of working together to scuttle the buyout in a separate lawsuit.

The United Steelworkers have opposed the deal, concerned over whether the company would honor existing labor agreements or slash jobs, and questioned Nippon Steel’s status as an honest broker for U.S. national trade interests.

However, some union members have come out in favor of the deal. Nippon Steel — the world’s fourth-largest steelmaker — says its ability to invest in U.S. Steel’s aging blast furnace plants in Pennsylvania and Indiana will boost the ability of the U.S. to compete in an industry dominated by China.

U.S. Steel has warned that, without Nippon Steel’s cash, it will shift production away from the blast furnaces to cheaper non-union electric arc furnaces and move its headquarters out of Pittsburgh.

___

Follow Marc Levy on X at: https://x.com/timelywriter.

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Jobs report fuels Treasury yield surge as markets brace for 5% threshold

Jobs report fuels Treasury yield surge as markets brace for 5% threshold 150 150 admin

By Davide Barbuscia

NEW YORK (Reuters) -A recent surge in U.S. Treasury yields may gain even more momentum after a strong jobs report reinforced expectations that interest rates will stay high for longer and raised the spectre of benchmark 10-year yields hitting 5% — a level that some fear could rattle broader markets.

Friday’s jobs report revealed that employers added 256,000 jobs in December, well above economists’ forecasts, while the unemployment rate dropped, bolstering market expectations that the Federal Reserve will maintain elevated interest rates to curb economic overheating.

That news dashed investors’ hopes for some respite from a sharp rise in Treasury yields that has wobbled stocks since the beginning of the year. The data also re-ignited concerns about inflation, which remains stubbornly above the Fed’s 2% target.

“The report was obviously negative for inflation,” said Felipe Villarroel, partner and portfolio manager at TwentyFour Asset Management. “This is definitely not an economy that is decelerating.”

Traders are now expecting the central bank will wait until at least June to reduce its policy rate. Before the jobs data, they were betting the Fed would cut rates as early as May with about a 50% chance of a second cut before year end.

Both J.P. Morgan and Goldman Sachs pushed their Fed rate cut forecast to June, having earlier projected a cut in March.

Concerns over a rebound in inflation have also begun to raise the prospect that the Fed’s next move could be a hike – a scenario that would have been unthinkable a few months ago when investors expected interest rates would have declined to about 2.8% by the end of this year. They are now at 4.25%-4.5%. 

“Our base case has the Fed on an extended hold. But we think the risks for the next move are skewed toward a hike,” analysts at BofA Securities said in a note on Friday.

Longer-dated U.S. Treasury yields, which move inversely to prices, jumped to their highest levels since November 2023, with the 10-year hitting a high of 4.79%. Yields have gained 20 basis points since the beginning of the year amid a global government bonds selloff that has hit UK government bonds particularly hard, pushing 30-year gilt yields to their highest since 1998.

Many in the bond market fear further weakness lies ahead, as fiscal and trade policies under the upcoming Donald Trump administration could lead to more Treasury issuance and a rebound in inflation. A BMO Capital Markets client survey before the jobs report showed 69% of respondents expect 10-year yields will test 5% at some point this year.

Next week’s economic reports will feature December’s producer and consumer price inflation data, which could be key for the direction of yields. 

The yield curve comparing two-year with 10-year yields has steepened in recent weeks because 10-year yields have been rising while shorter-dated ones have remained flat, a so-called “bear steepening” dynamic, bad for long-term bond prices, indicating the market expects interest rates to remain high due to ongoing resilience in the economy.

But that could change should inflation rise again, warned Jack McIntyre, a portfolio manager at Brandywine Global.

“Look for Treasury market to shift to a bear flattening from its recent bear steepening trajectory,” he said in a note. Bear flattening occurs when short-term interest rates rise faster than long-term interest rates, which can happen when investors anticipate central banks will increase interest rates.

Outside of bonds, rising U.S. Treasury yields could dampen investor interest in stocks and other high-risk assets by tightening financial conditions and increasing borrowing costs for businesses and individuals.

Higher yields can also improve the attractiveness of bonds against equities, “with 5% still seen as a trigger point for asset allocation shifts,” said BNY in a recent note.

In late 2023, stocks declined when benchmark 10-year yields reached 5% for the first time since 2007, and while they largely shrugged off the increase in yields late last year as the move was linked to an improved economy, stocks tumbled this week as upbeat economic data propelled yields higher.

The S&P 500 was down 1% on Friday.

“The 10-year yield will remain above 4% this year and as a result it could be quite challenging for the stock market,” said Sam Stovall, chief investment strategist of CFRA Research, after the jobs data. “We started the year on the wrong foot.”

(Reporting by Davide Barbuscia, additional reporting by Carolina Mandl; Editing by Megan Davies and Aurora Ellis)

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