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Amit Kukreja, stock market analyst, highlights that the 10-year yield has surpassed 5.3 percent, establishing a new 52 week high as the U.S. Treasury announces a $6 billion buyback of 10-20 year debt scheduled for tomorrow.
Kukreja observes that such buybacks are becoming a frequent occurrence. He also points out that despite this, the latest Personal Consumption Expenditures (PCE) data came in better than expected earlier today.
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Kukreja has previously addressed individual stock performance, noting that Apple led gains among Mag 7 stocks earlier this year. He also discussed company outlooks, suggesting that AVGO could reach $600 per share if EPS targets are met by FY 28. These earlier views add further context to his ongoing market commentary.