Rampant upward pressure on Treasury yields makes Friday's Equity bounce difficult to trust

The lack of a BOJ rate hike overnight has resulted in Treasury yields in both the US and many international developed markets pressing higher, and recent breakouts in Treasury yields coupled with negative momentum in equities likely results in some stalling out in this bounce early next week. In my view, the most important driver of equities in the short run will be the yield curve steepening and the rise in both ab...

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