Intraday Market Update – Yields Higher, Stocks Lower

2:02 p.m. ET Selling has accelerated over the last hour or so, which brought the S&P 500 below the 4,200 level. The move coincided with Treasuries hitting new intraday highs yields. The 10-yr yield is up 11 basis points to 4.95% and the 2-yr yield is up two basis points to 5.12%. Part of the…