Treasury yields are raining on the stock market's parade. The benchmark 10-year Treasury yield soared above 4.2% on Tuesday for the first time since late July. The shorter term 2-year note yield also topped 4% this week for the first time since August. Those moves have put stocks under pressure, as investors weigh expectations of future rate cuts following remarks from Federal Reserve officials this week. Stock futures were lower on the day after the major averages pulled back on Monday.
Here are the scenarios: Former President Donald Trump's "tariff policy would clearly be inflationary: the 10% universal tariff represents a 1.5% increase in inflation and the 60% China tariff represents a 1.1% increase in inflation," JPMorgan trader said. "In addition, elevated volatility under the Trump administration could also lead to higher term premium.
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Stock market today: S&P 500 closes lower as spike in Treasury yields weighStock market today: S&P 500 closes lower as spike in Treasury yields weigh
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