Treasury yields were higher last week, with the 10-year ending the week at 1.89 percent, up from the prior week’s 1.72-percent finish. On Monday morning, the yield remained at 1.89 percent.
Strong price momentum pushed equity markets higher last week, and the S&P 500 gained 1.29 percent. Higher-beta indices and
the more cyclical sectors led the markets higher as the risk-on trade came back into vogue.