On Tuesday the Market Was Worried About Rising Yields. By Friday It Wasn’t.
The Weekly Noise Machine
If you had been sat with me on Tuesday morning, you would have watched me shake my head and yawn whilst the news confirmed the S&P 500 had fallen for its third straight day.
Apparently, a surge in US Treasuries was seen to be weighing on the market. The small cap focused Russell 2000 was facing the greatest burden as a result of higher rates. Tech and cyclicals had also suffered, weighing heavily on the Nasdaq. Markets were generally unsettled. Again. Bond yields had moved higher. And investors were worried about interest rates, inflation and borrowing costs.
And, as usual, the short-term commentary machine was doing what it does best. Making a big noise.
Context Is Everything
To be clear, bond yields matter. So does inflation. And interest rates. Geopolitics, oil prices, government debt. It all matters.
But it matters in context. None of it requires ordinary long-term investors to keep jumping in and out of markets, changing strategy, chasing yesterday’s winners, or trying to guess what the next three trading days might look like.
That is not investing. That would be reacting. And over time, reacting can be very expensive.
The reason I smiled and shook my head was because by the end of the week I knew the story would have moved on again.
And hey presto. The same market that had looked nervous on Tuesday had started to look firmer again by Thursday, and by Friday too.
US shares had recovered some ground. European markets appeared stronger. Technology shares were attracting more investor support, and bond yields had eased back a little.
You couldn’t make it up.
The Two Ronnies Would Have Had a Field Day
Ronnie B: “Markets fall as Treasury yields rise.”
Ronnie C: “Markets recover as yields ease.”
And so on.
Inflation. Oil. AI. The Federal Reserve. The Bank of England. China. The Budget. The Middle East. An election. A recession scare. A stronger-than-expected jobs report. A weaker-than-expected jobs report.
There is always something. They would never run out of material.
What Actually Matters
That is really what my book Bulletproof Retirement is about. It is not about predicting what the S&P 500, FTSE 100, Nasdaq or global equity markets will do next Tuesday.
It is about building a clearer structure around your money, your retirement, your tax position, your estate, and your long-term financial life.
The danger with all of the market noise we must now endure is that it can make people feel they should be doing something. A big part of my job is keeping those who trust us grounded.
The most important work we do is making sure the foundations are right in the first place.
- Where are we allocated globally?
- Is the investment model evidence-based?
- Is the portfolio properly diversified?
- Are pensions, ISAs and all available allowances being used correctly?
- Is there a clear income strategy?
- Is the estate planning joined up?
- Is there enough liquidity?
- Is the family protected?
Those are the questions that matter far more than whether the S&P 500 fell for three days in a row and then recovered some ground a few days later.
The Plan Is What Gives You Confidence
Long-term wealth is not built by avoiding every uncomfortable headline. It is built by having a clear plan, sticking to it, controlling what can be controlled, and refusing to let short-term noise derail long-term progress.
It is all about structure, discipline, cost control, tax efficiency and behaviour. Investing done, as Gordon would say.
The market will always provide the noise. The plan is what gives those who trust us the confidence not to be controlled by it.
If you would like me to review whether your current pensions and investments are properly
structured, sensibly costed, and aligned with your long-term plan, you are welcome to complete my
short Investment Model Assessment.Â
Contact us today or call 0345 200 4041 to arrange a free consultation.
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Originally Penned on 22 May 2026Â
