Via an RBC Wealth Management note, says despite the trend higher in the US 10 year Treasury yield stocks have further upside.
- investors and the media focus on the implications of the US election and cabinet postings
- we continue to view the trend in the US 10-year yield and US dollar as the more important macro catalysts for equity markets
- 10-year Treasury yield should “stall” at 4.5%, should allow for further equity moves higher through the rest of 2024
