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«وكتب الحسنُ بن وهب إلى صديقٍ له يُعلِمه صبابتَه إليه، ووحشتَه لفراقِه، فقال: "وقد قسَمك الله بين طرفي وقلبي، ففي مَشهدك أنسُ قلبي، وفي عينيك لهوُ طرفي!"»



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«وكتب الحسنُ بن وهب إلى صديقٍ له يُعلِمه صبابتَه إليه، ووحشتَه لفراقِه، فقال: "وقد قسَمك الله بين طرفي وقلبي، ففي مَشهدك أنسُ قلبي، وفي عينيك لهوُ طرفي!"»

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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. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. So, uh, whenever I hear about Telegram, it’s always in relation to something bad. What gives? And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30. And while money initially moved into stocks in the morning, capital moved out of safe-haven assets. The price of the 10-year Treasury note fell Friday, sending its yield up to 2% from a March closing low of 1.73%.
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