Chart of the Day - Monday, March 14th, 2022

Today’s Chart of the Day was shared by Pratty Tulsian (@PrattyCharts). It's a daily chart of the US 10-year Treasury yield ETF, $TNX, over the past year. The 10-year yield continues to head north, reaching 2.14% today - its highest level since July 2019. It successfully retested the breakout level around 1.70% earlier this month and is already back to fresh highs. The breakout in yields continues to be one of the most significant developments we've seen this year, as higher yields have been driving the unwind in Growth/Tech stocks. It has already been brutal for Growth/Tech stocks this year, but they could continue to be under pressure if rates move higher.