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For tech stocks, “the main thing is yields,” Essaye said. Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. "We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said. That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were ugly—and out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that it’s on a sustainable path higher. Higher long-dated bond yields make future profits less valuable—and many tech companies are valued on the basis of profits forecast for many years in the future.
𝐂𝐑𝐎𝐖𝐘𝐀𝐋 𝐔𝐍𝐈𝐕𝐄𝐑𝐒𝐈𝐓𝐘 from us

𝐂𝐑𝐎𝐖𝐘𝐀𝐋 𝐔𝐍𝐈𝐕𝐄𝐑𝐒𝐈𝐓𝐘Since O5 . O5 . 21

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