Markets mixed as US Treasury yields rise

Markets were mixed on Tuesday.

The S&P 500 dipped 0.1 percent and the STOXX Europe 600 closed fractionally lower.

However, in Asia, the Nikkei 225 jumped 1.3 percent and the Hang Seng surged 1.9 percent.

The US 10-year Treasury yield jumped 9 basis points on Tuesday to top 1.30 percent, a level not seen since February 2020.

Some analysts see rising yields as a threat to markets.

“The market can digest rising yields, especially when they are going up for the right reason, but not when they go up in a linear fashion,” said Art Hogan, National Securities chief market strategist.