Nasdaq enjoyed near all time highs again. That may not last. As one user writes:How do you reconcile the spread between rates on Treasuries and EU sovereign bonds? As a side note, I think the rise in 10-year yields over the last several weeks is the bond market telling congress that they've seen enough deficit spending under the guise of "Covid relief". $TLT, iShares 20+ Year Treasury Bond ETF / H1 All the deficit spending will have to be funded some day through tax increases, in fact, one of the items floated by the O'Biden WH was to raise the corporate tax rate from 21% to 28%. Here we go again, let's make it uncompetitive to domicile operations in the U.S. and drive jobs overseas. This is the debt trap you speak of in your post down below. Some people may view this post as a political statement but if the problem is created in the political sphere then how else can it be framed. The facts speak for themselves. Below: MSFT, FB, are some of the reasons lifting the index. Other stocks like $AI failed to recover. $MSFT, Microsoft Corporation / H1 AI: $AI, C3.ai, Inc. / H1 Don't make any mistake about the origins of bond market unrest. The bond market did not begin its latest tantrum until the $1.9 Trillion bill passed both houses. Now that talk about another $4 Trillion boondoggle has been floated the tantrum continues. The Fed can try and soothe the baby with dovish speak but a day later the crying continues because the bond market knows the danger on the horizon is not in the hands of the Fed anymore it's in the hands of Congress and the WH who's political agenda far outweighs any economic concerns.