Philly Fed Hits 5-Year High
After the U.S. Treasury added liquidity to the long-term (30-year) bond market, bond yield rates initially dropped and lifted pre-market indexes, but the move reversed within a day. The 30-year bond yield is back up to +5.25%, with the 10-year at +4.71% and the 2-year at +4.19%.
Why it matters — Changes in Treasury bond yields signal shifts in broader market conditions, which can influence investor sentiment and valuations relevant to DoorDash.