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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. Recently, Durav wrote on his Telegram channel that users' right to privacy, in light of the war in Ukraine, is "sacred, now more than ever." But Kliuchnikov, the Ukranian now in France, said he will use Signal or WhatsApp for sensitive conversations, but questions around privacy on Telegram do not give him pause when it comes to sharing information about the war. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said. Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durov’s position "very weak," and urged concrete improvements.
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