Yields Are Rising: Tom Essaye Quoted in Barron’s
Stocks Gain as Concerns About Conflict in Middle East Ease
Sevens Report Research’s Tom Essaye told Barron’s that reports President Joe Biden is weighing a visit to Israel have sent stocks higher and oil prices lower. WTI crude oil futures were down 0.7%, to $86.93 a barrel.
“Yields are higher but that’s likely by nervous investors reversing ‘fear based’ positions. That came last week as a result of the Israel/Hamas conflict,” Essaye wrote. “Point being, yields are rising as investors get more comfortable with the geo-political environment.”
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