If there's one thing that spoils the 'There Is No Alternative" party for buying 'stonks', it's soaring interest rates offering a potential alternative.
This morning has seen 10Y yields spike up to 1.29%...
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Source: Bloomberg
Sending bonds to their cheapest (relative to expensive stocks) since
(Click on image to enlarge)
Source: Bloomberg
And that appears to have triggered some anxiety among equity investors...
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Now that stocks are paying attention to bond yields velocity, will The Fed step in?
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