The U.S. 10-year Treasury yield climbed to its highest level since 2007 this week.
Meanwhile, the 30-year Treasury yield reached its highest point since 2011.
What's more, higher yields are typically a negative for tech and growth stocks — this year's best-performing group — as they lessen the value of their promised future earnings.
Ned Davis Research's Joseph Kalish said Monday he expects the 10-year Treasury yield could rise to 5.25%, citing risks to the bond market on inflation expectations.
US10Y YTD mountain U.S. 10-year Treasury yield YTD "The market has been consistently underpricing the risk of additional rate hikes and overpricing the speed of rate cuts," Kalish wrote.
Persons:
Ned Davis Research's Joseph Kalish, Kalish, Strategas, Chris Verrone, 133bps, Verrone, Wolfe, Chris Senyek, Morgan Stanley's Matthew Hornbach, it's, Tom Essaye, — CNBC's Michael Bloom, Chris Hayes
Organizations:
Treasury, Federal
Locations:
U.S