News & Events

The Weekly Wrap - April 22, 2022

Since 2011 the 10-year Treasury yield has pierced 3.0 percent on rare occasions – a few brief months in the fall of 2018 and 1 or 2 daily forays in late 2013. It moved precariously close to that threshold’s doorstep, trading at 2.96 percent on Thursday, before giving back some ground on Friday, but still surging nearly 60 basis points since the start of the month. Meanwhile, the stock market suffered a major blow this week, notching heavy losses punctuated by a plunge of nearly 3 percent in the major indexes on Friday. This pattern is counterintuitive, since the bond market is supposed to be a safe refuge for investors when losses on riskier assets, such as stocks, start to pile up.