Treasury Yields Just Blew Up the Nasdaq – Here’s What I’m Doing Now, September 23, 2026

— Ben, Find Better Trades

Well, there it is. Treasury yields just shot to levels we haven’t seen since 2007. The Nasdaq got absolutely smacked today, pulling back sharply from its recent records.

Don’t look away. This isn’t just noise; it’s a major shift you need to react to.

What Just Happened

Treasury yields are up, way up. The 10-year yield just hit its highest point since 2007, making fixed income much more attractive.

This means the cost of money is going up across the board. It impacts everything from mortgage rates to corporate borrowing costs.

Expectations were for some yield stability, maybe a gradual climb. Reality hit hard today with an aggressive surge.

What It Means for Your Trades

High-growth tech stocks get hammered when yields spike. Their future earnings are worth less in today’s dollars, making them less appealing.

Avoid the high-flyers for now. Names with heavy debt or those reliant on cheap financing will feel the pain.

Look at financials; they often benefit from higher interest rates. Banks can make more money on their loans.

Value stocks, or companies with strong free cash flow and lower growth expectations, might hold up better. They aren’t as sensitive to discount rates.

My Take

I’m bearish on the market’s immediate direction, especially for growth. This yield move is a fundamental shift, not a temporary blip.

Fighting the bond market right now is a fool’s errand. The smart money is going to pull back from risk.

Protect capital. Stay nimble. The landscape just changed significantly, and you need to respect that.

Conviction: high

Macro Pulse FAQ

Q: Why do rising Treasury yields hurt stocks?

A: Rising yields make bonds more competitive as an investment. They also increase borrowing costs for companies and consumers, which slows economic growth and reduces corporate profits.

Q: Should I buy the dip in tech stocks?

A: Not yet. The underlying pressure from higher yields is too strong. Wait for yields to stabilize or show signs of reversal before considering long positions in growth.

Q: What sectors might benefit from higher yields?

A: Financials, especially banks, typically benefit from higher net interest margins. Some energy and value sectors might also see relative strength as investors rotate out of growth.