The better-than-expected NFP data suggested strong economic growth, triggering concerns of investors that tightening monetary policy is ahead!
Now, good job data or economic figures are bad for the stock market. NQ got a hit on the days and now it's coming back!
As the price touched 1.6%, a new range is formed with upper boundary of 1.96% (close to 2%) .
I think at the end of day, folks will be fed up with the US 10Y yield. Focus will be shift back to corporate earnings. From the valuation perspective, WACC is affected by the yield. So what's next?
Until then, stock market will still be shaken by the hike of US 10Y yield.