On the other hand, there are sectors deeper in the red, such as the Communications Services sector, after a big plunge in Snap (NASDAQ: SNAP) shares after the firm missed its Q3 earnings. Following in its footstep is Twitter (NASDAQ: TWTR), whose Musk woes the market is still digesting. In his daily market view, Caxton’s Michael Brown, on October 21, sounded off on risk assets, claiming that he is still bearish.
The 10-year yield
After the initial jobless claims came in lower than expected on October 20, the markets reversed their positive start; however, the 10-year yield spiked. Despite a small drawdown today, the 10-year yield remains at 4.22%, a level not seen since the 2008 financial crisis. Furthermore, ING, a global financial institution of Dutch origin, sees a possibility for the 10-year yield to exceed 4.5%. Bond investors may rejoice if the yield hike continues, but it’s questionable how high they can go before the market experiences another bout of panic selling and pushes more investors out of the markets. For now, keeping one eye on bond yields seems prudent. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
