Barron's | Stock Market News

The bond market is closed for Columbus Day, a federal holiday, but futures tracking the 10-year Treasury note yield are down from last week.

The yield was 4.74% on Monday, according to FactSet, slipping from last week’s levels. At one point last week, the yield hit 4.887%, the highest since August 2007, according to Dow Jones Market Data.

“The stock market is extremely oversold amid a surge in bond yields and any positive news on inflation from Thursday's CPI could spark a rally in bond prices and a decline in bond yields largely because bond yields overshot to the upside in recent weeks and bond yields are due for a correction,” wrote James Demmert, chief investment officer at Main Street Research.

Read the full article here.

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