Premarket: Apple is red

From the Wall Street Journal’s "U.S. Stock Futures Fall as Treasury Yields Move Higher" posted early Monday:

U.S. equity futures and Asian stock indexes dropped, while the 10-year Treasury yield continued its upward march following a three-day holiday weekend.

U.S. government bonds tumbled again, sending the yield on the benchmark 10-year Treasury note to a high of 2.884% in early trading, according to Tradeweb. It closed last Thursday at 2.808%, its highest level since December 2018, and has risen more than half a percentage point in April alone. Bond yields and prices move in opposite directions.

The rout in Treasurys is surprising because yields have already climbed to levels that look attractive to long-term investors like pension funds and foreign governments, said Jimmy Lim, founder of Modular Asset Management, a Singapore-based macro hedge fund.

“The inflation concern is real. There is a bit of a buyers’ strike going on,” he added.

Charts: Yahoo!Finance sees a bearish Williams %R pattern. Max pain has moved up to $170 with a call peaks at $170, $175 and $180.

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