CNBC's "Fast Money" The Most Important Charts in the Market, and Where One Top Technician Is Seeing Buying Opportunities 9/27/23
Sep 27, 2023
Discussion on the surge in yields and oil, analyzing market indicators and speculating on implications of yields, analyzing Micron's performance and stock buyback, partnership between Peloton and Lululemon, crude oil performance and energy stocks, challenges faced by the United States in lower oil prices.
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Rising Yields Impacting Market
- The 10-year Treasury yield surged past 4.6%, nearing October 2007 highs.
- This rapid rise impacts sectors like real estate, utilities, and industrials.
Market Reaction to High Yields
- Despite yields exceeding 4.6%, the market's reaction was milder than anticipated.
- Small-caps performed well, defying expectations of a downturn.
Bearish Sentiment and Yield Breakout
- Market sentiment is bearish, but not at the extreme needed for an equity market bottom.
- Treasury yields are poised to confirm a breakout, with resistance at 5.25%.