Market Update – Higher Yields Pressuring Stocks

2:56 p.m. ET A very ugly, near catastrophic 5-yr Treasury auction sent yields surging and that’s been weighing on the averages, which haven’t done much in the cash session beyond the opening gap up. SP-500 +0.35%, Dow 0% (Transports -0.65%), NASDAQ-100 +0.75%, Small Caps -0.6% Here’s the 5-year yield (1m) opening 6 bp lower and…