Today’s Chart of the Day was shared by David Rath (@DJwrath). It's a daily candlestick chart of the US 10-year Treasury yield since the start of 2022. The 10-year yield just registered its highest weekly close in more than a decade. It hasn't quite broken out on a daily basis yet, but it's getting very close. It peaked in June and spent the Summer building a solid base to potentially launch higher from. Rising yields, along with a strong dollar, have been putting pressure on stocks all year. Particularly growth/tech stocks, which are some of the most widely owned, yet beaten down areas of the market. Keep an eye on the 10-year yield next week as it attempts to resolve higher out of a three-month base.
Chart of the Day - Friday, September 16th, 2022
September 16, 2022
