Watching Yields CloselyThe bond market may be the most important market right now. Treasury yields are sitting at a critical juncture, but to figure out the next move in rates, you probably need to figure out oil first. Several equity relationships suggest even modest moves in yields could have meaningful implications for valuations and market breadth.Channel lows
The Bond Market Holds The Key
History suggests the valuation headwind becomes much stronger once the 10-year moves meaningfully above 4.5%.
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