Rising Yields Add To Pressure On Stocks

With the trend in yields still rising, new highs shouldn't come as a surprise

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The yield on the 10-year T-Note has broken out to its highest level since 2008, while the yield on the 1-year Treasury is at a level not since in over two decades. The historically wide spread between 10-year and 1-year yields is narrowing as long-term yields move toward short-term yields.

Rising yields and the continued shift away from excessive optimism keep pressure on stocks, adding to the deterioration being seen beneath the surface.

In our Three for Thursday video update (Rally Resilience Gets Tested As Market Timing Narratives Add To The Noise) we look at breadth deterioration from the perspective of global and US sector trends. I also push back on one of the widely shared market timing narratives that is factually true but practically irrelevant for investors.*

*Please reach out if you want to see how investors come out ahead by missing both the best and the worst market days.