Key Points:
- In the trailing six months, since late October, the 10-year bond yield has risen by 63bps to the current 3.0%.
- Since 1970, the U.S. 10-year bond yield has risen by at least 60bps in six months (using week-end yields) 478 times (of 2,522 total weeks). When this has happened in the past, the S&P has tended to struggle for three to six months before resuming more normal gains.
