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Market Update

Markets Brief: Bond Yields Rise, Bank Stocks Struggle

Major banks start reporting. Delta and travel stocks rise higher. Healthcare stocks reverse gains while Nvidia and AMD extend losses.

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While the stock market has become a bit cooler in recent weeks after a volatile first quarter, the action is continuing in the bond market.

With inflation continuing to run extremely hot (although showing small hints of a future cooldown) and the Federal Reserve signaling a determination to substantially raise rates this year, bond yields have continued to push higher. The U.S. Treasury 10-year note hit 2.83% this past week, up from 2.39% on April 1 and 1.52% on the final day of 2021.

Jakir Hossain does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.