These are the Dow stocks to buy and sell as rates surge

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The 10-year Treasury yield has been retesting a key 4% level since breaking above it last month for the first time since 2008.

With interest rates surging and knocking the overall stock market back to its bear market lows, investors can win by finding the stocks that gain as yields increase. Markets were choppy Tuesday after the yield on the U.S. 10-year Treasury again approached the key 4% level in overnight trading before pulling back. The 10-year Treasury yield has been retesting that level since breaking above it last month for the first time since 2008.

Pro sought to find the stocks with the most positive correlation to rising rates. We screened the Dow Jones Industrial Average to find the members with the highest correlation to the ProShares Short 20+ Year Treasury fund , which is a proxy for rising rates. Here are the five stocks in the Dow that win the most when rates are on the move. The five Dow stocks most positively correlated to rising rates include Merck , Johnson & Johnson , Procter & Gamble , IBM and Walmart .

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