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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 uglyโand 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 itโs on a sustainable path higher. Higher long-dated bond yields make future profits less valuableโand many tech companies are valued on the basis of profits forecast for many years in the future. 'Wild West' "We're seeing really dramatic moves, and it's all really tied to Ukraine right now, and in a secondary way, in terms of interest rates," Octavio Marenzi, CEO of Opimas, told Yahoo Finance Live on Thursday. "This war in Ukraine is going to give the Fed the ammunition, the cover that it needs, to not raise interest rates too quickly. And I think Jay Powell is a very tepid sort of inflation fighter and he's not going to do as much as he needs to do to get that under control. And this seems like an excuse to kick the can further down the road still and not do too much too soon." Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. In 2018, Russia banned Telegram although it reversed the prohibition two years later.
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