Stocks drift lower, US yields rise but growth outlook dims

NEW YORK/LONDON, Sept 18 - Global equities slid and the 10-year Treasury yield held just below an almost 16-year high on Monday amid rising concerns that the Federal Reserve's higher for longer message on interest rates will take a toll on a U.S. consumer facing a few headwinds.

"The Fed is unlikely to raise at this meeting," Ghriskey said. But I think they're in an every-other meeting raise cycle, unless we really see significant improvement in inflation." The benchmark 10-year Treasury yield was at 4.3185%, just below the 4.366% level reached on Aug. 22, and the two-year yield rose further above 5%.

France's third-biggest listed bank said it expected little if any growth in annual sales over the coming years in a keenly-awaited strategic plan from its new chief executive. Shares of property developer China Evergrande Group plunged 25% on Monday after police detained some staff at its wealth management unit. Fellow developer Country Garden 2007.HK faced another liquidity test with a deadline to pay $15 million in interest linked to an offshore bond.

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