The Tidal Trust II YieldMax Ultra Option Income Strategy ETF (ULTY) closed down 1.62% at $9.12 on January 7th, amid a volatile trading session influenced by macroeconomic factors. The ETF's decline aligns with broader market movements, as strong U.S. economic data led to a surge in bond yields, causing a sell-off in equities, particularly in the tech sector. The Nasdaq Composite fell by 1%, driven by declines in major tech stocks like Palantir Technologies, Nvidia, and Tesla. The spike in bond yields was triggered by the Bureau of Labor Statistics reporting November job openings at 8.1 million, surpassing expectations and prompting investors to reassess the Federal Reserve's interest rate trajectory. This reassessment has led to a reduction in the likelihood of rate cuts in 2025, further pressuring equity markets. Additionally, the bond market experienced heavy selling, with the U.S. 30-year yield reaching its highest level since October 2023, reflecting concerns over budget deficits and rising long-term borrowing costs.