Bearish Outlook Amid Yield Surge & Metals Collapse
- SPY (representing broad equity exposure) breached March lows, aligning with technical targets near November 2025 lows; QQQ followed suit, approaching key support around $585–$590.
- Rising Treasury yields—TNX broke above 4.29%—are pressuring risk assets, especially rate-sensitive sectors like metals and materials.
- Precious and base metals weakened further, with copper and silver targeting multi-month lows as real rates climb and inflation fears resurge.
- Despite oil retreating post geopolitical de-escalation hints, equities closed lower, with the Magnificent 7 all down and breadth deteriorating.
- Short-term bearish momentum persists; minor support near SPY’s recent lows is technical, not a capitulation signal—caution remains until evidence of trend reversal emerges.
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Source: AI
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