This morning, the yield on the 10-year Treasury note is spiking higher to 3.58%. The yield bottomed out yesterday at 3.28%. That is a big move for Treasury yields.
Yields fell for two reasons:
1. a flight to safety...as the stock market sold off over the past three weeks
2. in response to talk that the economy is slipping into a recession.
This morning...the spike higher in rates means money is coming back out of "safe" treasury investments...into the stock market. Let's keep an eye on yields, as a move higher would be more healthy for stocks.
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