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. Continuing its crackdown against entities allegedly involved in a front-running scam using messaging app Telegram, Sebi on Thursday carried out search and seizure operations at the premises of eight entities in multiple locations across the country. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durov’s position "very weak," and urged concrete improvements. Individual messages can be fully encrypted. But the user has to turn on that function. It's not automatic, as it is on Signal and WhatsApp.
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