let's bring in bloomberg's katie greifeld. this going to be the thing that we are watching, just how long the 10 year is in control? katie: is there anything else to watch? it seems to be controlling everything right now. that was a great chart of how tech seems to be moving inversely to the treasury yields and that has implications for every benchmark worth watching. that will be the dynamic that markets are going to be glued to. kathy jones has a great clip that everyone is a rate strategist because it is the bond market driving things. romaine: a lot going on on twitter these days. i am curious of what you are hearing on the trendline on yields. it seems like to me, this is still going to go higher, but you have people saying, don't worry, it all peter itself out, but i am not sure if i understand what is going to stop this. katie: it is a great question, and you had a dramatic story on the terminal where it says the bull market in bonds is now over, and that has not happened since 1981. romaine: is this like a three decade

nonetheless join us with more, cross asset reporter katie greifeld. when will the dip buyers emerge in tech? katie: i don't know. they were nowhere to be found today pet i love the stack on the dollar and the nasdaq 100. at one point it was the biggest intraday data versions between the two since 1993, the year i was born. i have never seen that before. joe: you're not qualified to talk about that. caroline: kt, get off. katie: maybe i should not have opened with that. if you peace under the hood, look at the doubt, it has tech in there, but it is heavily weighted to industrials, financials -- the old economy names that would benefit from it pick up in yields and activities, whereas text, the growth names, they have flourished in this environment we have been living in. obviously they are lagging here as a long end of the treasury curve takes off. it has turned into a tell of two markets, given how big tech is an various benchmarks. that is dragging it down. i will point out the small cap -- small cap russell 2000. those are taking off as the rotation

katie greifeld, talking about the move in markets. time now for stock of the hour. e that katie mentioned, bankamerica. at a 13 year high as rates come off of historic lows. with one of its largest one-day gains in a long time. we are looking at the rise. >> the board of market seems to be selling off, but banks seem to be one of the few bright buttons. it is the top-performing sector today. compare that to last year. it was actually another sector. these major players have incredible gains. 60% for the key players. part of that are those rising yields. that's been the key story all of this year. the current expectations of growth and inflation. the 10 year actually hit 1.75% today. that is helping the banks out in a big way. you can see how closely correlated the 10 year yield is to the bank sector. 80 basis points year-to-date. the banking sector, also up some 18%. the s&p 500 barely budged. it is helping net interest margins with the steep yield curve. you can see how depressed they were in 2020 when you compare the previous years. a steepening yield curve is real

romaine: bloomberg's katie greifeld alpinist break it down. we will talk about u.s. treasuries. for -- worst first quarter loss since 1980. jp morgan head of u.s. rates and derivatives strategy will join the program next. this is bloomberg. ♪ romaine: this morning, we came in with the big bonds selloff. it cut a lot of folks off guard. some say it has a lot to do with what is going on with additional stimulus, infrastructure plans. joe: i love theories about month end, quarter end, great explanations. very useful. treasuries having their worst quarter since 1980. you see that selloff, absolutely brutal. rise in yields. on the absolute level, they are still extremely low. 1.7% among the lowest ever on the 10 year. compared to where we were not long ago and last year, still a pretty dramatic quarterly selloff. romaine: number one song in 1980, "call me" by blondie. joe: joining us for more, jp morgan head of derivative and interest rate strategy, josh younger. your big picture, how much of it was essentially a market recognizing that a u.s. economy is poised to grow much faster th

thank you very much, katie greifeld.uick check on where we are with the markets as we analyze all of this data that has dropped into our screens this afternoon. to be honest, i think you had a little bit of affect -- i think you miss -- i think u mich had a little bit of an effect. small caps have been really suffering as of late. in the bond market, such a story yesterday with that seven-year auction. the market kind of brushing past it, but i think that is a significant event. taylor: gamestop up 65% in two days. ♪ guy: a bit of breaking news coming out of new jersey. the expansion of the vaccine rollout program continues. new jersey to expend its program eligibility to 55 and older. that is going to start on april 5. speaking from a personal point of view, we are getting to quite a young them a graphic now. taylor: yes -- young demographic now. taylor: yes. relative, i like how you did that. i put my whole stimulus check in gamestop. so did everyone else. come and take a look at this chart. as we are taking a look at