S&P 500 rises but bond yields surge post-Fed, impacting USD/JPY

S&P 500 futures gain 0.6% to 5,650 following the Fed's rate cut, but rising long-term Treasury yields create market divergence. The 10-year yield has jumped 8 basis points to 3.73%, its highest level in two weeks, as traders reassess the Fed's longer-term rate trajectory. USD/JPY has surged 0.7% to 142.50, benefiting from the widening US-Japan yield differential. NVIDIA leads tech gains (+2.1%), supporting risk sentiment despite bond market concerns. The disconnect between equity optimism and bond pessimism reflects uncertainty about the Fed's easing pace. Technical analysis shows USD/JPY resistance at 143.00, with support at 141.80. The 3-month Treasury yield remains elevated at 4.95%, suggesting limited near-term rate cut expectations. This stocks-bonds divergence could signal upcoming volatility, with implications for carry trades and risk assets.