The yield on the U.S. 10-year Treasury note slid to 4.109% from 4.231% on Monday as bond prices rose, according to Tradeweb. Monday’s yield was its highest closing level since 2008. The two-year yield, which is closely tied to central bank policy expectations, edged lower to 4.477% from 4.498%, retracing a larger move immediately following the housing print.
Falling long-term yields propelled segments of the stock market most sensitive to interest rates. Shares of utilities and real estate firms—which offer high dividends and sometimes compete with bond yields—gained 2% and 3.9% as of early Tuesday afternoon, respectively. That marked the largest one-day gain for the S&P 500 real estate sector in over two years, according to Dow Jones Market Data.
“This is a pretty broad-based rally, but clearly the leadership is in rate-sensitive sectors,” added Mr. Hogan. Growth segments of the market also saw gains, as investors place more value on those companies’ future earnings when interest rates are lower. Technology and consumer discretionary stocks rose 1.9% and 2.3%, respectively. Nearly all of the S&P 500 11 sectors were in the green, save shares of energy firms.
Really
Ya, the market is cookin’. Up 2,575 points in the past month. Nearly +9% increase… in a month! Let’s hope it keeps going.🤞🏼
According to Donald Trump, Joe Biden is responsible for the rally.
Biden’s push before midterms. then Humpty Dumpty will have a great FALL ↘️
say it ; thanks to Biden POTUS
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