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2026-11-09

Treasury-Yield Correlation With the Nasdaq Tops 70%, Economic Data a Sideshow

Treasury-Yield Correlation With the Nasdaq Tops 70%, Economic Data a Sideshow

Key points

Rolling 1-month correlations of weekly 5-year Treasury yield changes vs the Nasdaq 100 and the economic surprise index | The Nasdaq correlation has risen above 0.7 while the data link turned negative

Image source: @BlakeMillardCFA