Treasury Yields To Continue To Drive Short-Term Trading: Tom Essaye Quoted in Barron’s
Stocks Extend Rally After Best Week of the Year
“Today there are no notable economic reports and just one Fed speaker, [Lisa] Cook (11:00 a.m. ET), so look for Treasury yields to continue to drive short-term trading,” writes Sevens Report Research’s Tom Essaye.
The 10-year Treasury yield ticked higher on Monday but was still at 4.614%. The 10-year yield was trading around 5% in October, which weighed on rate-sensitive stocks.
“If the 10-year yield continues to decline then the S&P 500 can extend last week’s rally.”
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