Stocks posted modest losses on Thursday as investors had little reason to buy stocks with discouraging economic data and a steady rise in bond yields, which has started to raise concerns about inflation. Bond yields continue to climb, as murmurs of inflation have started among investors and as the economy continues to climb out of the hole that was created by the pandemic. The steady rise in yields means investors see the economy getting better, but it also suggests they’re concerned about inflation. The momentum of the stock market, particularly on Thursday, danced closely with the bond market. When bond yields tipped lower in the afternoon, the stock market recovered more than half of its losses from earlier in the day.

Source: Los Angeles Times February 18, 2021 23:03 UTC