Excerpt from the video transcript:
TheoTrade Chief Market Technician Jeff Bierman joins Yahoo Finance Live to talk about investing amid a potentially recessionary environment.
Video Transcript
SEANA SMITH: Welcome back to Yahoo Finance. US Treasury yields are soaring. Take a look at the 10-year yield, getting a lot of attention this week, breaking back above 4%. Joining us now for more on that, we want to bring in Theo Trade chief market technician, Jeff Bierman. Jeff, great to have you again. So you look at this from a technical perspective. We’re back above that 4% threshold. What do you think the bond market is signaling to you? And what do you think that that means, just in terms of the trading action we could potentially see?
JEFF BIERMAN: Well, there’s this fulcrum going on between the Fed raising rates and the Fed– people thinking the Fed is going to hold off rates. And I am more leaning towards what the bond market says than the narrative that comes out from the Fed weekly. I just go by the facts, Seana. And the facts are labor markets are tight. Prices are not coming down. We’ve stabilized. We’ve come from an 8 and 1/2 handle on the inflation rate, on the CPI and PPI to about 6. But we bounced back up. So we overshot to the upside. We’ve stabilized here, somewhere between 5%, maybe 7% for the time being. And I don’t think that fits with the Fed’s mandate of that 2%.
