Bond Market’s Bad Tidings Start to Overwhelm Miracle Stock Rally
- S&P 500 erases October gains as long-end Treasury yields soar
- Stocks can ‘only take so much’ as risks accumulate: Hazen
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Stock investors who sleepwalked to an $8 trillion rally earlier in the year are being shaken awake by the bond market.
Worrying signals on everything from inflation, government deficits, valuations and, arguably, the nearness of a recession proved too much for the equity faithful to withstand this week, torpedoing the S&P 500’s October advance and pushing losses since July to almost 7%.