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Investment Daily: US stocks rose, while Treasuries declined

15 May 2026

Key takeaways

  • US stocks and Treasury yields rose.
  • European stocks and government bonds rose.
  • Asian stocks were mixed.

Markets

US stocks rose on Thursday amid continued AI optimism. The S&P 500 ended 0.8% higher.

US Treasuries mostly declined, and the yield curve flattened. 10-year yields edged up 1bp to 4.48%, while 2-year yields climbed 4bp to 4.02%.

European stocks rose on Thursday as investors continued to eye the US-China summit. The Euro Stoxx 50 increased 1.3%. The German DAX was also up 1.3%, and the French CAC rose 0.9%. In the UK, the FTSE 100 gained 0.5%.

European government bonds rose (yields fell). 10-year German bund yield fell 6bp to 3.04%, as 10-year French bond yields were down 7bp to 3.66%. In the UK, 10-year gilt yields also decreased 7bp to 4.99%.

Asian stock markets lacked clear direction on Thursday as investors kept a watch on the meeting between the US and Chinese leaders. Japan’s Nikkei 225 declined by 1% on higher JGB yields and downbeat earnings, while Korea’s Kospi rose 1.8% to a new record high. China’s Shanghai Composite lost 1.5%, and Hong Kong’s Hang Seng ended almost flat. Elsewhere, India’s Sensex advanced 1.1%.

Crude oil prices closed little changed on Thursday. WTI for June delivery settled at USD101.2 a barrel (+0.1%). 

Key Data Releases and Events

Releases yesterday

In the US, retail sales rose 0.5% mom in April, decelerating from 1.6% mom growth in March, in line with expectations. Overall consumer spending has been supported by tax rebates and a declining savings rate, amid higher energy prices.

Releases due today (15 May 2026)

In the US, industrial production should rebound following a one-off fall in utilities, with high-tech industries supporting manufacturing. 

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