Oil Near $100 Meets 5% Yields: An Inflation Trap
WTI is flirting with $100 and the 10-year sits above 5%. Energy is driving inflation, and long bonds are pricing the risk that it lasts.
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Tech Slips as Oil Tops $100 and Yields Stay Above 5%
Nasdaq fell 2.15% while the Dow lost just 0.34%, as crude above $100 and a 5.08% 10-year yield squeezed high-multiple tech stocks.
Gold Slides 1.4% as 10-Year Yield Holds Near Highs
Gold futures slipped about 1.4% to $4,476 an ounce as the 10-year Treasury yield held near its 52-week high, pressuring non-yielding assets and equities.