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MPC Morning Call 24th September - Bond Yields Rocket Higher
US 10-Year Yield Smashes to Record Highs — Bond Market Sends a Warning
Jonathan Tacadena hosts today's Morning Call as the bond market delivers the story of the day: the US 10-year yield rocketed from ~4.95% to 5.11% overnight, a fresh record high and one of the sharpest moves in recent memory. Equities were mostly lower but surprisingly muted given the scale of the bond sell-off — Dow -350pts, S&P -0.75%, Nasdaq -1%, Russell 2000 hit hardest at -1.77%. Jonathan breaks down the Nasdaq/S&P divergence, the carry-trade risks behind rising yields, a strengthening US Dollar Index, commodities…
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