Bitcoin Reversal and Rising Bond Yields Pressure the Market I continue to focus on stock picking but speculation is cooling to start the week. Stocks quotes in this article: JPM, TLT
Stocks are set for a soft open as it reverses after hitting record highs this weekend, and bond yields continue to move higher on growing concerns about inflationary pressures.
JPMorgan (JPM) warned that the rally in bitcoin was unsustainable unless volatility starts to slow. The theory is that volatility is a function of speculative activity, and speculative activity will prevent some institutions from feeling that they need exposure to the asset class.