Benzinga – Rising Treasury yields have investors cautious despite positive news from the earnings season.
The yield on the long-dated 30-year Treasury bond has surged to 4.79%. It’s on track to close at the highest level since early November, ahead of crucial economic data on Thursday.
The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) fell 0.9%, extending its year-to-date drop to 10%.
Rising yields are propelling the greenback higher, particularly against the low-yielding Japanese yen which tumbled to past 155 per dollar, hitting the lowest level since June 1990.
Tesla Inc. posted lower-than-expected results last quarter, but shares rose 10%. Investors reacted to the automaker’s pledge to produce more affordable models to broaden the market.
The S&P 500 fell 0.4% by midday trading in New York; the tech-heavy Nasdaq 100 managed to hold steady; and small caps saw wider declines, with the iShares Russell…
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