by Bob Rinear
The International Forecaster
Most of you probably know what this past week was like in market land. Enormous swings up and down. The NASDAQ losing 2K points from its high just 14 sessions ago. Entire indexes giving up all their 2021 gains.
Shortly after the open on Friday, things went south again. The NASDAQ peeled off another 350 points, the DOW plunged red by another 200+ the S&P was blood red by 40. It was another slaughter day. Until….
(Reuters) – The recent run up in yields on longer-dated U.S. Treasury securities reflects improving expectations for the U.S. economy, St. Louis Federal Reserve President James Bullard said on Friday, adding that he is not eyeing a specific level of yields that might concern him.
The 10-year U.S. Treasury note yield – which rose above 1.61% on Friday – is just returning to the level consistent with the six months before the pandemic, he said, characterizing it as “still quite low level of yields.”