Zelle Emerges as Lawmakers' Surprise Villain at Bank Hearings

Zelle Emerges as Lawmakers' Surprise Villain at Bank Hearings

The latest threat to stocks now isn't any macro risk — it's rising 2-year Treasury yields, according to some fund managers and strategists. Short-term, relatively risk-free Treasury bonds and funds are back in the spotlight as the yield on the 2-year Treasury continues to surge. On Wednesday, it reached 4.1% —the highest level since 2007 . As of Thursday during Asia hours, it pushed higher to 4.124%. "The new headwind for stocks is not just about inflation, potential recession, or …