Money Distilled

Equities Can’t Keep Ignoring Rising Bond Yields

Inflation is bad for fixed income, but it’s not great for overvalued stocks either.
AN S&P 500 chart on the floor of the New York Stock Exchange on Thursday, May 14, 2026.Photographer: Michael Nagle/Bloomberg
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Welcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.

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