It's Getting Hard for S&P 500 to Elude Bond Market Violence
- The 10-year Treasury yield tops 2.7% as stock market sells off
- Strategas cuts REITs to underperform on interest rates risk
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A subplot that has gone largely unnoticed in this year’s relentless stock rally is playing out in public Monday.
It’s the steady hammering in companies with the highest dividends, a trend that before today had done little to slow the advance in the S&P 500 and Dow average. That resistance wavered Monday as drops in real-estate, utility and telecom shares proved too strong for the market to shake off.