The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and the risks of over-tightening.
While it is widely accepted that the U.S. will enter a recession, a debate rages on about how long it could last. On that, Tesla (NASDAQ:TSLA) CEO Elon Musk recently said on Twitter that the recession could last “probably until spring of ‘24,” and added that it would be nice to spend “one year without a horrible global event.”
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