Yields Spike Again, Gold and Silver Wobble While the Indexes Hold Still

Right now the S&P 500 sits at 7,702.39 (-0.53%) and the Nasdaq at 26,905.06 (-0.60%), with 1 hour 50 minutes left until the close. Against the 01:40 brief that's the S&P500 down another -0.02%p and the Nasdaq down another -0.05%p — not a plunge, I'd say, just the same spot sinking a little deeper hour after hour.

Why Treasuries are getting sold again

Today's headlines show the 30-year yield breaking above 5.5%, and the 2-year up more than 5bp to 4.918%. Rising oil is adding pressure for the Fed to hike further, and with October hike odds now priced at 65%, the bond market moved first. Gold dropped 3% and silver 5% on that, and right now gold miners and clean energy are the weak sector while biotech/healthcare is the lone holdout.

Won up, dollar index down — same day

The won-dollar rate climbed to 1,367.36 (+0.36%) while the dollar index slipped to 100.97 (-0.32%). Compared with yesterday's Kospi tumbling -2.70% while the Kosdaq held at +0.25% (9/28 close), today's S&P500 and Nasdaq sliding together is a flatter, less dramatic drop than what Kospi saw.

My public holdings are just the accumulated marks, not today's move.

HD Hyundai Electric is the most pressed at -11.9%, but I'm not calling what's next. For the remaining 1 hour 50 minutes I'll be watching whether yields keep climbing and gold/silver keep sliding. Whether today's line about lingering rate and credit pressure gets priced further into the indexes is something I'll check at the next brief.