were released. The Fed's warning that sustained inflation could lead to more rate hikes — and a higher chance of an engineered recession — probably triggered a sell-off in risky assets like cryptocurrency, said Sylvia Jablonski, chief investment officer at Defiance ETFs.Evercore ISI's Mark Mahaney is famous for his analysis of technology stocks. So when he has a new top pick, investors listen.
is his new favorite small- and mid-capitalization internet firm, and has a possible upside of nearly 72% over the next 12 months, according to Mahaney.Rising U.S. Treasury yields are straining stocks. Minutes of the Federal Reserve's July meeting triggered the 10-year yield to rise more than 2 basis points to hit its highest level in almost a year. But at 4.282%, it's still lower than the benchmark interest rate of 5.25% to 5.5%.for the year, which would take rates to a range of 5.
Those bets are slowly unwinding. There's a 38% chance that the Fed will increase rates by 25 basis points at its November meeting, according to theAnd with rates possibly going higher than that if inflation resurges — as the Fed warned in its minutes — yields could climb further still.