Treasury yields have surged following a difficult auction of 30-year bonds, where the government was forced to accept the highest borrowing costs in a quarter-century. The steep increase reflects persistent investor apprehension regarding inflation and the Federal Reserve’s potential policy reactions.
Software Stocks Rally on M&A Speculation
While bond markets struggled, the technology sector offered a rare bright spot. The software industry is enjoying a strong morning of trading after reports emerged suggesting that Workday, a prominent provider of human-resources and financial management tools, is exploring a potential sale.
The acquisition speculation has driven up shares of sector peers on the FTSE 100. Relx, Experian, and Sage Group all posted significant gains, climbing 3.1%, 4.4%, and 4.5% respectively in early trading.
Source: The Guardian