Wall Street rallies, Treasury yields rise on strong economic data, Fed resolve

Published by
Reuters

By Stephen Culp NEW YORK (Reuters) – U.S. stocks rose sharply and Treasury yields touched two-week highs on Wednesday as robust economic data, easing geopolitical concerns and generally upbeat corporate earnings boosted investor risk appetite. All three major U.S. stock indexes were higher and benchmark 10-year Treasury yields gained ground. Economic data showed an unexpected acceleration of services activity and a robust increase in factory orders, suggesting that the economy was healthy enough to withstand the hawkish monetary policy from the U.S. Federal Reserve. “While we haven’t seen a de…

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