The Dow Jones Industrial Average closed near 53,000, gaining roughly 250 points (+0.5%) after three consecutive lower sessions. The rebound was explicitly tied to the bond market turning, not a change in equity fundamentals.
The 10-year Treasury yield hit 4.818%, a level last seen in November 2023. The 30-year yield sits above 5.28%, while the 2-year is near 4.40%.
The market turn occurred the moment the long end of the yield curve...
