Treasury yields are liming stock market gains as the 10-year yield continues higher for 11 weeks in a row. "This is tied directly to the hawkish tone from the Federal Reserve speakers. There is an expectation for higher interest rates for longer. As a result, the housing market is seeing a downfall, specifically in existing home sales. Is the labor market next to see an impact? Also, the U.K. prime minister, Liz Truss, resigned. However, the British Pound price is remaining consistent," says Ben Lichtenstein.
23 Oct 2022