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Equity rebound | Stocks climbed, and bonds tumbled as data on retail spending and the labor market underscored the strength of the US economy, allaying fears the Federal Reserve would be risking a deeper slowdown. As economic jitters abated, equities extended a rebound from last week's meltdown into a sixth straight session. The S&P 500 rose about 1.6%, while the Nasdaq 100 added 2.4%. Treasury yields surged, with the move led by shorter maturities. US officials have been trying to use higher rates to ease inflation without causing the economy to contract — a scenario known as a “soft landing.”
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