(March 1) U.S. stock benchmarks kicked off trade in March sharply higher, with some strategists attributing the enthusiasm to a cool-down in the rapid rise in bond yields that had unsettled the bullish mood on Wall Street last week.
The Dow rises 1.28%, the Nasdaq Composite advances 1.62%, and the S&P 500 up 1.41%.
The broad advance came as the yield on 10-year Treasury notes, the benchmark borrowing cost in global debt markets, slipped to 1.43% from 1.459% Friday. Yields fall when bond prices rise.
Stocks, and particularly shares of tech companies, have been buffeted byvolatile moves in government-bond marketsin recent trading sessions. A lurch higher in yields last week called into question the prospect of a long period of low interest rates, which had underpinned the past year’s booming rally in stocks.