Bad News Was Good News Friday — for Stocks, Not Bonds
Payrolls missed every estimate, raising bets for an October FOMC hold, and the Nasdaq-100 powered to a record high. But Treasury yields reversed an early drop.
Retreating Yields Lift Stocks and Broaden Market Gains
Treasury yields reversed from two-decade highs, helping stocks recover morning losses as gains broaden beyond Tech, but higher oil prices remained a headwind.