Stocks and Treasury Yields Both Jump
It is starting to sound like we’re saying this almost every week, but once again stock prices moved higher and set new records. Last week marked the first time the Dow Jones Industrial Average closed above 15,000, moving up 1% to end the week at 15,118. The S&P 500 Index likewise reached a new record, rising 1.2% to 1,633. The Nasdaq Composite also rose, climbing 1.7% to 3,436. In fixed income markets, Treasury yields continued to climb (as prices fell), with the yield on the benchmark 10-year Treasury moving from 1.74% to 1.90%.