U.S. households have made big moves in the roughly $25 trillion U.S. Treasury market since the Federal Reserve began its campaign of rate hikes last year.
“The bottom line is that US households and real money are finding current levels of US yields attractive,” Slok wrote in emailed commentary Friday. A slight pullback Friday in the 10-year Treasury yield, a benchmark rate used to fuel the U.S. economy, was giving stocks a slight boost, but equities still were on pace for sharp weekly losses.For the week, the S&P 500 index’s SPX consumer discretionary segment was leading the stock-market gauge lower, down 5% at last check Friday.
Tesla Inc. TSLA, -1.08% shares were more than 7% lower on the week, at last check, while those of Amazon.com Inc. AMZN, +1.24% were off about 6.7%, while others in the “Magnificent Seven” pack of outperforming stocks this year were also on pace for losses since Monday.
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