- Stocks are rallying on a "Goldilocks" backdrop — cooling jobs and mild inflation — which has traders betting the Fed can stay on hold and the AI-driven rally can keep running.
- Bonds are sending a different signal: 10‑ and 30‑year yields are near multi‑year highs, undermining Treasurys' usual role as a safe haven in market sell‑offs.
- Investors are watching global central‑bank moves — many markets are priced for significant rate hikes (South Korea, Europe, UK, Canada among them) — which could keep upward pressure on US yields.
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