Geopolitics, Bond Yields, and a Market Reality Check | S3 E113 | 01-21-26

Markets with Megan: A Quick Financial Markets Update · Jan 21, 2026 · 4m · transcript

Markets don’t need a heavy data week to make big moves. We open with a sharp risk-off swing sparked by a jump in Japan’s 10-year yield to heights not seen since 1999, then trace how that shock rippled through Treasuries, equity multiples, and the dollar. From there, we unpack why long-duration growth names led the slide, why small caps fell less, and how a thin economic calendar let geopolitics take the wheel.

Tariff talk and tense U.S.–Europe rhetoric around Greenland put sentiment on edge, but the narrative shifted when force was taken off the table, fueling a fast relief rally. We break…