Interest Rates Soar

Monday, stocks fell 0.7% in Asia, closed little changed in Europe, and were unchanged in the U.S. on 13B shares traded. Despite tepid stock movement, the 10-Year U.S. Treasury bond yield jumped up 7% to close at 2.32 — perhaps in response to hawkish words from Fed chief Powell. Precious metals gained 1% and their miners moved up three times that amount.

Tuesday, stocks gained 1.7% in Asia , 0.9% in Europe, and 0.8% in the U.S. on 12B shares traded. The 10-Year U.S. Treasury bond yield rose 3% to close at 2.37. Precious metals lost 1%. The NASDAQ closed above 14,000 and the S&P 500 ended above 4500.

Wednesday, stocks rose 1.0% in Europe but fell 1.6% in Asia and 1.1% in the U.S. on 12B shares traded. The 10-Year U.S. Treasury bond yield fell 2% to close at 2.32. Precious metals gained 2% and their miners moved up 3%.The NASDAQ closed below 14,000 and the S&P 500 ended under 4500, but Apple bucked the trend by closing above its 170 benchmark.

Thursday, stocks ended trading down slightly in Europe but gained 0.6% in Asia, and 0.9% in the U.S. on 11B shares traded. The VIX fell 8% to close at 21.67. The NASDAQ closed above 14,000 and the S&P 500 ended above 4500. IBM closed above 130.

Friday, stocks fell 0.9% in Asia, closed unchanged in Europe, and moved up 0.5% in the U.S. on 12B shares traded. The 10-Year U.S. Treasury bond yield ramped up 6% to close at 2.49.

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