| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3892 Registered: 05-2011 Rating: N/A |
It's mostly more of the same in today's market action. Treasury yields are rising, growth stocks and mega-cap stocks are under selling pressure, and value stocks are exhibiting relative strength. Rising real rates -- and worries that they will keep rising -- have been a headwind for the stock market all week. The 10-yr note yield is up fiver basis points today to 1.78% and up 27 basis points for the week. The pace of change has been more concerning than the level, although the level is now in play as a move above 1.75% seemingly cracks the door open for a push to 2.00%. This move fits with signs of a more assertive Fed looking to tame inflation; and today's move follows a December employment report that was weak on nonfarm payrolls (199,000) but stronger than expected with average hourly earnings growth (+0.6%). |