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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. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. On Telegram’s website, it says that Pavel Durov “supports Telegram financially and ideologically while Nikolai (Duvov)’s input is technological.” Currently, the Telegram team is based in Dubai, having moved around from Berlin, London and Singapore after departing Russia. Meanwhile, the company which owns Telegram is registered in the British Virgin Islands. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred."
from fr
