Bond yields are spiking, oil is up — but investors aren’t giving up on stocks

Surging oil prices and bond yields have made markets choppy in recent weeks — but many investors are digging ing and hoping returns are in sight. Global government bonds extended a sell-off after the U.S. 10-year Treasury yield breached the closely watched 5% level on Tuesday, while oil has been holding above $100 a barrel as the Iran war's supply shock continues. Equities have largely been on a tear this year despite a global energy crisis, surging bond yields and bouts of volatile trade amid geopolitical developments, with the S&P 500 adding more than 10.8% so far this year. The tech-heavy Nasdaq Composite has jumped 11.8% year-to-date, while the Dow Jones Industrial Average is up 8.4%.