Stock market likely to correct if 10-year Treasury yield reaches 5%, RBC says

U.S. stocks probably can’t resume their rally from the lows of last October until the recent sharp rise in longer-dated Treasury yields reverses, according to Robert Sluymer, technical strategist at RBC Wealth Management.

“Rising interest rates and a rising U.S. dollar DXY remain major headwinds for equities that will need to reverse for equities to bottom,” Sluymer wrote, in a Tuesday client note.rates, a move above 4.5%-5% by the U.S. 10-year yield has proven to be an important headwind for the secular uptrend for equities.

The Dow on Tuesday skidded 1.3%, posting its worst daily drop since the March banking crisis, cementing its lowest close since late May at 33,002, and erasing its gains for 2023, according to Dow Jones Market Data.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow ends lower on rising Treasury yields as US averts shutdown By Investing.comStock Market Today: Dow ends lower on rising Treasury yields as US averts shutdown
Source: Investingcom - 🏆 450. / 53 Read more »

Steer clear of European luxury stocks, says RBC, as Citi upgrades the sectorEuropean luxury groups face a number of headwinds says RBC analyst. But Citi disagrees.
Source: MarketWatch - 🏆 3. / 97 Read more »