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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鈥攁nd 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鈥檚 on a sustainable path higher. Higher long-dated bond yields make future profits less valuable鈥攁nd many tech companies are valued on the basis of profits forecast for many years in the future. Russian President Vladimir Putin launched Russia's invasion of Ukraine in the early-morning hours of February 24, targeting several key cities with military strikes. The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off. Since its launch in 2013, Telegram has grown from a simple messaging app to a broadcast network. Its user base isn鈥檛 as vast as WhatsApp鈥檚, and its broadcast platform is a fraction the size of Twitter, but it鈥檚 nonetheless showing its use. While Telegram has been embroiled in controversy for much of its life, it has become a vital source of communication during the invasion of Ukraine. But, if all of this is new to you, let us explain, dear friends, what on Earth a Telegram is meant to be, and why you should, or should not, need to care. "The inflation fire was already hot and now with war-driven inflation added to the mix, it will grow even hotter, setting off a scramble by the world鈥檚 central banks to pull back their stimulus earlier than expected," Chris Rupkey, chief economist at FWDBONDS, wrote in an email. "A spike in inflation rates has preceded economic recessions historically and this time prices have soared to levels that once again pose a threat to growth."
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