Intraday Market Update – Yields Are The Answer for Equities Near Term Probabilities For Next Week

3:08 p.m. ET The averages continue to trade mixed with low conviction. Higher yields (after a week of hawkish Fed commentary) from +6 bp to +7 bp across the curve continue to pressure the growth stocks (-0.8%). For that reason, the NASDAQ-100 is the weakest performer, while the Dow is the best. While these relationships…