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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
Bloomberg business news
BNP Paribas's Warther on the Bond Selloff
Updated on

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.