The recent move in Treasury yields to 16-year highs has loomed over the stock market, which has pulled back after the Federal Reserve last week signaled a hawkish long-term outlook for interest rates.
Investors are grappling with the rise in benchmark Treasury yields to 16-year highs after the Fed gave a hawkish longer-term rate outlook. The S&P 500 rebounded on Monday after last week it had its biggest weekly drop since March.