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“The stock market is filled with individuals who know the price of everything, but the value of nothing.” – Phillip Fisher

It’s looking like it’s going to be one of those Mondays this morning.  Treasuries are trading higher this morning while equities are looking to open moderately lower.  Bitcoin, meanwhile, is down over 8% after Elon Musk said over the weekend that prices ‘seem high’. That’s enough these days.

In economic news, the only two datapoints on the calendar this morning are Leading Indicators at 10 AM and Dallas Fed at 10:30 AM.  Earnings season is unofficially over, but there’s still a number of key reports to contend with after the close and over the next few days.  Make sure to track them all in our Earnings Calendar.

Be sure to check out today’s Morning Lineup for updates on the latest market news and events, earnings reports from around the world, economic data from around the world, an update on the latest national and international COVID trends, and much more.

As the pre-pandemic days start to fall further in the past, one-year charts of various financial assets are starting to look a lot more different. Take the yield on the 10-year US Treasury. Along with the fact that yields are rising, the higher levels of rates from before the pandemic are falling out of the one-year window.  Through that combination of events, today’s yield of 1.3721% would mark a 52-week high on a closing basis.  It’s been a while since we’ve been able to say that!  As if the chart doesn’t look interesting enough now, wait until late March when the down leg falls completely out of the picture.