Bonds Slam Stocks: QQQ Falls 1.7% — Can Fed Minutes Turn the Tide?
A third straight down session Tuesday: SPY −0.68%, Nasdaq −1.33%, Dow −0.22%, with the 30-year Treasury yield holding near 5.28% after touching 5.31% Monday, its highest since 2007. Oil added pressure, and Japan's long-bond selloff keeps lifting global term premiums — one note flagged U.S. debt nearing $40 trillion as structural. Thursday's July FOMC minutes, 2 a.m. Beijing, are the test: three officials dissented for a 25bp hike at the meeting that held 3.50–3.75%, a fifth straight pause. Buy the tech dip, rotate to financials and energy, or wait?
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