Jim Cramer at the NYSE, June 30,2022.
Virginia Sherwood | CNBC
The 10-year Treasury yield briefly topped 4% early Wednesday for the first time in 14 years before pulling back some. The 2-year yield, which has been ripping higher, eased to about 4.15%. U.S. stock futures turned positive. The Bank of England intervened in the bond market in a move to try to stabilize the falling British pound. Bank of England saves? Exactly what? Unlimited buying of bonds. Holy cow. Our trusted S&P Oscillator at minus 12.6. That indicates extremely oversold conditions. It actually went down from Tuesday’s lowest-since-early-Covid reading after the S&P 500 dipped to another bear market low.