This is the level where the 10-year Treasury yield becomes a ‘clear problem' for stocks, Goldman study shows [CNBC]
Goldman Sachs Group, Inc. (The) (GS)
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Source: CNBC
The volatility in the bond market has had equity investors on their toes for months, but at what point will rising yields spoil stocks' 2024 rally? The answer is 5% on the 10-year Treasury yield , according to Goldman Sachs . In a new 19-page paper using market data since the 1980s, the Wall Street firm said when that threshold is reached, the correlation between bond yields and stocks turns negative. “While there is no ‘magic number', historically bond yields at around 5% is when higher yields become a clear problem for equities — that is the point where the correlation with bond yields is no longer decisively positive,” wrote a team of Goldman strategists led by Peter Oppenheimer, chief global equity strategist. The benchmark 10-year yield jumped 5 basis points Tuesday to 4.67% after data showed employee compensation costs increased more than expected to start the year. It marked yet another danger sign about persistent inflation, which the market thinks will keep the Federal
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- 5/21/24 - Form 424B2
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- GS's page on the SEC website