Yield Scare That Shocked Stocks in February Barely Registers Now
- Stock market looks past rising rates to economic rebound
- Analysts upgraded S&P 500 earnings estimates by most on record
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Stock bulls rattled by rising yields six weeks ago have come to embrace the economic signal the latest spike is sending.
While Wall Street has worried that Treasuries -- fresh off their worst quarter since 1980 -- could derail the stock market’s rally, there’s little that seems to be backing up those concerns. The S&P 500 opened at a record Monday following Friday’s blowout March jobs report, even as benchmark Treasury yields flirted with their pre-pandemic highs.