Bond interest rates may determine market direction
Any further moves in Treasury yields, particularly a testing of the 3 per cent level on the 10-year Treasury note, could jolt stocks, even if earnings season progresses well
SPECULATORS on stocks and bitcoin learned this week that market "melt-ups" - greed-fuelled, rocket-paced rallies such as those of the last three months - are so-called because of how often they are followed by meltdowns.
With the biggest January gains since 2003, the stock market melted up at the start of the year and, last week, it melted down.
This week, the same momentum that carried stocks and digital currencies to such heights could perpetuate the slide, particularly if interest rates continue climbing on the bond market.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch
Parkway Life Reit Q1 DPU up 4% to S$0.0379
Japfa posts US$12.4 million Q1 profit, reversing from year-ago loss of US$43 million
PayPal lifts 2024 profit forecast as spending stays resilient, margins improve
Walmart to shut all health centers in US over lack of profitability