10-year Treasury yield just closed at 4.79% — highest since October 2023.
Bond market is screaming something. Either inflation expectations are creeping back up, or the Fed's "higher for longer" message is finally sinking in.
Either way, this matters for stocks. Higher yields = higher discount rates = lower valuations for growth names. Tech has been ignoring this, but physics eventually wins.
Watch the 5% level. That's where things got interesting last time.
Bond market is screaming something. Either inflation expectations are creeping back up, or the Fed's "higher for longer" message is finally sinking in.
Either way, this matters for stocks. Higher yields = higher discount rates = lower valuations for growth names. Tech has been ignoring this, but physics eventually wins.
Watch the 5% level. That's where things got interesting last time.
