Who Didn’t See 5% Coming?

Our earlier commentary, Some recent trades, was picked up by Dow Jones Market Talk:

Who Didn’t See 5% Coming?

1:06 (Dow Jones) Equities investors didn’t suddenly glance up and just this
morning see Treasury yields nearing 5%, but it kind of seems that way. "It’s
funny how stocks ignored yields all this time," Barry Ritholtz writes at The
Big Picture. "Suddenly, stocks are finally reacting to the shift." The 30-year
has crossed the 5% mark and the 10-year is right behind it. "5% yield drives
the Fed, attracts cash to CDs and fixed income products, and makes corporate
borrowing more expensive, hurting earnings. A 5% yield is not a stock friendly
number." DJIA down 84.

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