WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Treasury yields in the United States traded at multi-year highs, while stock markets fell on Monday morning. U.S. two-year treasury yields rose above 10-year borrowing costs, creating a curve inversion which may signal an upcoming economic recession. Yields on 10-year U.S. Treasuries hit 3.24 per cent, the highest since Oct. 2018. The Dow Jones, NASDAQ and the S&P 500, as well as the TSX Composite Index fell in early morning trading. On Friday, the U.S. Labor Department reported that inflation rose to 8.6 per cent in May, which could pressure the Federal Reserve to raise its key lending rate.
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– The U.S. House committee investigating the Jan. 6, 2021 attacks on Capitol Hill will resume its hearings on Monday morning, which will continue to detail how then-President Donald Trump pursued false claims about the 2020 presidential election despite members of his inner circle telling him there was no fraud. Former Fox News political editor Chris Stirewalt, as well as election officials, investigators and experts will all make live testimony during the day-long hearing. Additional hearings will be conducted on Wednesday and Thursday.
– Russian forces have destroyed a bridge connecting the Ukrainian cities of Severodonetsk to Lysychansk on Sunday, destroying one of the few routes for residents of the former to escape the fighting. Russian forces have taken most of Severodonetsk, but Ukrainian forces have retained control of an industrial area and chemical plant where civilians are hiding. Elsewhere, Russian cruise missiles destroyed a depot containing U.S. and European weapons in Ternopil, located in western Ukraine. However, local officials have said there were no weapons at the facility.
