Early Update – Yields Resume Surge – Stocks Sink

10:51 a.m. ET From Friday’s Afternoon Update, “If we break above 1.80% on the 10-year, then stocks are likely to resume their downside that has characterized 2022 thus far.” The 10-year yield is trading at 1.85%, and as expected, put downside pressure on index futures after a 3-day holiday weekend. SP-500 -1.4%, Dow -1.55%, NASDAQ-100…