Jim Cramer said Monday that a handful of artificial intelligence giants are masking pressure from surging Treasury yields, creating an unusual disconnect between the stock and bond markets. The Nasdaq Composite jumped about 1% to close at a record, while the S&P 500 gained 0.66%, finishing just 0.3% below its August 13 record close. These advances came even as the 10-year Treasury yield rose above 5.34% and the 30-year approached 5.7%. Nvidia, Microsoft and Meta together represent nearly 17% of the S&P 500, meaning their gains can propel the indexes higher even as rates climb. Cramer remains cautious and believes the bond market offers a better indication of where Wall Street is headed than current index levels.
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