Business activity surged to a five-year high in September as new orders jumped, but strong demand also pushed prices higher.

Treasury yields reached multi-decade highs as growing expectations for an October Fed rate hike kept pressure on bonds.

Global debt surged $10 trillion to top $365 trillion as large government deficits and rising interest costs raise concerns about fiscal stability.

New home sales surged to an eight-month high in August as price cuts and builder incentives helped attract buyers despite higher mortgage rates.

Homebuyer demand weakened as purchase applications fell 1% for the week and 11% from last year as rates weigh on the fall housing market.

More borrowers turned to adjustable-rate mortgages, which offered rates over a point lower than fixed loans and made up 9.8% of applications.