Lowest Yields in Almost 4 Weeks Despite Ongoing Stock Market Recovery

There's no question that stock prices and bond yields have had more than the normal amount of correlation recently. While that created some risk of a bond market weakness in the event of a stock market correction, those fears are proving unfounded over the past 2 trading days. Granted, stocks haven't surged, but they did move back to the highest levels in a week on Monday. But bonds didn't follow. In fact, after a microscopically stronger start, yields continued to fall gradually throughout the session, ultimately closing at the lowest level since the late October Fed meeting.