JPMorgan, Barclays warn US 10-year yield above 5% may hurt equities
JPMorgan to Barclays and Societe Generale say a US 10-year Treasury yield crossing 5% will eventually pressure the equity market rally, citing resilience so far despite rising global yields.
Experts from JPMorgan, Barclays and Societe Generale said the US 10-year Treasury yield moving above 5% would eventually crack the equity market rally, which has remained resilient even as yields rise globally. According to Alain Bokobza, head of global asset allocation at Societe Generale, the key question for equity investors is not when the 10-year yield reaches 5%, but how quickly it gets there.