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Aug 14, 2023
Market Update Equities markets wavered higher as bond yields edged closer to decade highs ahead of retail sales data tomorrow. US10Y is currently at 4.20% and is nearing its last highest daily close of 4.24% in Oct '22, while the US02Y is at 4.96%, 0.12% away from its last highest daily close in Mar '23. This translates to a yield curve inversion between the 10 and 2-year of -0.76%, after putting in a local high of -0.68% a week ago. $SPX and $QQQ are 0.2% and 0.5% higher from Friday's close.