Stocks Slammed As Yield Surge Spoils TINA Party

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%…

Source: Bloomberg

Sending bonds to their cheapest (relative to expensive stocks) since

Source: Bloomberg

And that appears to have triggered some anxiety among equity investors…

Now that stocks are paying attention to bond yields velocity, will The Fed step in?