US equities mixed in Friday afternoon trading while all the major indices are higher for the week. The S&P has gained ~1.6% this week, the Nasdaq is up ~2.1% and the Dow is up ~ 35 basis points. The Bond yield backup receiving significant attention today. The 10-year yields bumped up against the 2.50% level and the 5/30 spread moved closer to an inversion. The Move seems to be a function of a barrage of sell-side calls for an even more aggressive, frontloaded Fed tightening path in response to another week of hawkish Fedspeak. Meanwhile there was some focus on the recent success of Ukrainian counteroffensives with ceasefire talks still making no progress and Russia reportedly shifting it’s primary war aim towards liberating Eastern Ukraine.