---
title: "Why Bond Yields Don't Matter Amid Nasdaq's Record High"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/301044199.md"
description: "The Nasdaq hit a record high driven by strong buying in the Magnificent Seven, despite bond yields reaching multi-decade peaks. Investors avoided long-term U.S. debt, pressuring ETFs like IEF and TLT. Meanwhile, SpaceX (SPCX) surged 17.61% on breakout momentum, while telecom stocks showed mixed performance; Verizon and AT&T recovered from lows, but competitors like T-Mobile and Comcast faced pressure due to growing rivalry with satellite broadband services."
datetime: "2026-10-06T13:40:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/301044199.md)
  - [en](https://longbridge.com/en/news/301044199.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/301044199.md)
generator: "portal-rs"
---

# Why Bond Yields Don't Matter Amid Nasdaq's Record High

Stock markets opened with strong buying momentum for both the Nasdaq (QQQ) and the S&P 500 (SPY). Traders bought the usual stocks: the Magnificent Seven.

Microsoft (MSFT), NVIDIA (NVDA), Tesla (TSLA), Meta Platforms (META), and Alphabet (GOOG) traded higher.

Underneath the Nasdaq closing at a record high, bond yields continued to break through multi-decade highs. Still, Treasury bond yields closed a few basis points below the high.

Debt investors are unwilling to commit their funds in U.S. debt that matures longer than six months. They yield around 4.0% to 4.3%. Conversely, the 10 Year Treasury yielded 5.31%. The 30-Year Treasury yielded 5.66%. This pressured the two popular ETFs, IEF (7-10 year) and TLT (20+ year).

SpaceX (SPCX) continued its breakout. After shares drifted in the $140-$160 range since September, it broke out in the last week. SPCX stock gained 17.61%. Insiders are likely holding out on selling their vested shares. The restraint prevented SPCX stock from falling below $104.83.

Even though markets are bullish about SpaceX’s broadband satellite service, they are no longer bearish about Verizon (VZ) and AT&T (T). Telecom stocks recovered from the summer lows. However, T-Mobile (TMUS), Comcast (CMCSA), and Charter Communications (CHTR) are nearing yearly lows. 

Higher overall competition between wired telecom and satellite is growing. That would pressure the industry’s profit margins.

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## Related News & Research

- [Microsoft Could Be SpaceX's Next Big AI Customer: Bernstein Sees AI Revenue Surging Nearly 500%](https://longbridge.com/en/news/300953883.md)
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- [BREAKINGVIEWS-Elon Musk readies his signature gambit at SpaceX](https://longbridge.com/en/news/301271914.md)
- [‘SpaceX Stock Is in the Danger Zone,’ Says Investor](https://longbridge.com/en/news/301052732.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**