(CNBC) The pain of recognition was acute for Wall Street on Tuesday, with major averages down sharply across the board and Treasury yields surging to their highest levels in some 16 years. “When you have an economy predicated on zero rates, this fast move [by the 10-year Treasury yield] towards 5%, the calculus has to change, because the ramifications are going to change.”
Something is breaking in financial markets — Here’s what’s behind the sell-off
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