2-Year Treasury Spike to 16-Month High Triggers FANG+ Selloff as AI Multiples Compress
The US 2-Year Treasury yield hit a 16-month high on June 5, triggering a coordinated selloff across Meta, Microsoft, Alphabet, NVIDIA, and Broadcom. Rising short rates are compressing terminal value assumptions for AI platform companies. A further 25–50 basis point move could accelerate rotation out of high-multiple AI names.
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