There’s Still Something Weird About Today’s Rally

Quick heads up here.

Last week we started talking about this odd divergence in the market. “Risk” assets, like stocks, have been surging like crazy. But “Anti-Risk” assets, like Treasuries have been holding up as well.

It’s a curious conundrum, and nobody has a great explanation for what’s up.

And it persists! Today the market is almost surging, with the Dow up around 100.

10-year Treasury rates?

STILL LOWER.

Maybe some nervousness about a slowdown creeping back in?

10-year Treasury yield intraday

chart