Stocks and bond yields are under pressure as a speech from Federal Reserve Chair Jerome Powell on Thursday, October 19, momentarily sent the 10-year Treasury yield over five percent for the first time in 16 years. Invesco Chief Global Market Strategist Kristina Hooper discusses her six key themes impacting markets today as market uncertainty drags on.
“One of the biggest market movers of course is the 10-year U.S. Treasury yield,” Hooper says, “but we have to recognize that what we’re seeing happening right now is likely a very short-term phenomenon.”
Hooper affirms the spikes in the 10-year Treasury yield to be temporary, refocusing that the Fed remains a “real problem” for markets.
“There’s a difference between that which is perceived to be contained versus that which is perceived to be contagious,” Hooper explains, noting the regional banking crisis, where the markets concluded “that it was contained and so they were able to move on.”
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