Asian markets are mixed after higher bond yields in the U.S. weighed on equities overnight
ended the day just above the flatline. The moves came as bond yields extended their February gains, with the benchmark 10-year yield briefly topping 4% for the first time since November. The 1-year Treasury yield rose above 5%.Stocks susceptible to a 'potentially intense' March pullback, says AXS Investments' Bassuk
Economic data remains the investor narrative for March with all eyes laser focused on February's inflation print. Traders have been watching the negative correlation between stocks and the benchmark 10-year's move to the key 4% psychological level. Chart strategists say the level is not important resistance, but it is important in terms of the impact on investor sentiment.Technology Select Sector SPDR FundBond strategists expect the 10-year yield to continue to rise, ahead of the Fed's March 22 rate decision. Any strong inflation or even jobs data could be a catalyst for a move higher.
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