Bloomberg thinks stocks are 'in denial' and Nasdaq should trade 'way lower'

Recent trends in long-dated Treasuries suggest that interest rates may remain elevated for an extended period. The strengthening of the“However, stocks have gone their merry way — the longer they stay in denial, the worse the denouement for them,” analysts at Bloomberg said.

While two-year yields have also increased, the impact is more significant when investors seek higher rates over a longer time horizon. This shift should influence the discount rate investors use to evaluate the fair value of stocks. The analysts also remind investors of a popular stock market saying: The market is a voting machine in the short term and a weighing machine over the long term.

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