Technology stocks on Wall Street surged as investors awaited details of US President Joe Biden's massive infrastructure plan.
"The trend we're seeing today is investors rotating back into growth-oriented names that have gotten a little bit beaten up over the past few weeks or so due to underlying rotation toward the economic reopening stocks," said Michael Sheldon, chief investment officer at RDM Financial Group. Investors once again sold off government bonds, with 10-year Treasury yields rising as high as 1.753 per cent, after initially being pushed down on demand from traders rebalancing their portfolios for the end of the March quarter.
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An American leader with a plan? It's been a long, long four years.
Corporate welfarism