[Video] If yields have topped then Indices could be set for a boost
Matt Simpson March 23, 2021 4:14 AM
US bond yields have drifted lower this week, and we see the potential for them to extend their downside from a technical perspective. And equities should like that.
In recent weeks, bond prices have moved aggressively lower, sending yields to new highs and weighing on equities. So we are keeping a close eye on the US 10 year bond market as its decline has stalled at a key level of support. And if prices bounce from here to supress yields it could provide a tailwind for US equities.
In today’s video we also look at the Russell 2,000 which itself has found its footing around a support cluster. And wrap up with GBP/CHF ahead of a UK data dump scheduled later this morning.
S&P 500 (0.70%) 22 March 2021
- The index closed -1.09% below its 52-week high
- 281 (55.64%) stocks advanced and 222 (43.96%) declined
- Information Technology (1.93%) was the strongest sector and Financials (-1.29%) was the weakest
- 5 out of the 11 sectors outperformed the index
- 88.12% of stocks closed above their 200-day average
- 77.82% of stocks closed above their 50-day average
- 68.12% of stocks closed above their 20-day average
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