CNBC's Jim Cramer examined Monday's market action and said investors shouldn't be too concerned about rising bond yields.
"Stocks have soared with bond yields at these levels before; in fact, they've soared with the 30-year at 5%, they've soared with the 30-year at 6%, so let's stop it with the jeremiads."
The indexes ticked lower on Monday as bond yields jumped, with the Dow Jones Industrial Average losing 0.8% and the S&P 500 dipping 0.18%.
But Cramer noted that the stock market has "had a fabulous run," even as bond yields have been creeping up.
Cramer acknowledged that some investors, particularly traders with a more short-term view, are inclined to automatically trim stocks when bond yields rise.
Persons:
CNBC's Jim Cramer, shouldn't, Cramer
Organizations:
Dow Jones Industrial, Nasdaq, Federal