CNN, CNBC, And WSJ Mislead Investors
It’s a classic example of how the press misleads consumers about financial economics — of why investors are shortsighted and poorly informed by the modern media.
The yield on a 10-year Treasury bond topped 3% for the first time in years, and CNN, CNBC, and The Wall Street Journal sensationalized it.
In a segment that aired on CNN’s early morning news show and that’s posted on CNN’s website, CNN’s chief business correspondent hypes the rise in the 10-year bond yield, saying it’s — quote — “freaking out some very smart money people” and rattling the stock market, before she incorrectly reports that the yield curve is flattening.
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