Rate-Sensitive Equities Nervously Await the Next Treasury Yield Move
- By John Tierney
- 2 min read
There are a variety of reasons why the S&P 500 has been mired in a narrow 5% trading range over the past month, including uncertainty about the pace of the recovery, inflation, and maybe even turmoil in the bitcoin market.
But surely a key driver has been the 10-year Treasury yield, which has been locked in a 13bps range as bond markets take a more measured view of inflation risks and the Fed’s apparent willingness to focus on transient factors.
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