Tech Stocks Ignore Bonds to Drive Nasdaq to Record High

MPC Markets Morning Call · Oct 5, 2026 · 12m

The Nasdaq closed at a record high overnight — up 1.05% to 27,477 — even as US 10-year yields hit 5.35%, their highest since 2002. With European bonds under pressure, private credit gating redemptions, and inflation eroding cash, big tech is starting to look like the only safe haven left. We break down BMO's call for 6% on the 30-year, Aramco's warning that global oil stocks are "scarily thin," the divisive Firmus IPO opening on the ASX today, and why coal keeps quietly climbing. Plus a quick look at Russia's plague quarantine in Siberia.

Topics: Nasdaq record, US bond yields at 2002 highs…