on the 5th March @highlandlad posted this in his excellent morning report
The yield on ten-year US treasuries jumped almost seven basis points to 1.55 per cent
“The market has been worried about the rise in long-term interest rates and the Fed chairman in his commentary didn’t really push back towards this increase in rates and the market took it as a signal that yields could rise further which is what has happened,” Scott Brown, chief economist at Raymond James, told Reuters.
The Nasdaq was on track for a third straight losing week. Tech stocks are particularly vulnerable to higher borrowing rates because they are valued on future earnings, which get discounted when rates climb.
Markets were sliding because rates were climbing and everyone was sh#tting themselves if the rates went over 1.6 per cent
fast forward two weeks, the market climbs, and yet rates last night were 1.689 per cent, and everyone shrugs their shoulders?
