Despite the trend higher in the US 10 year Treasury yield stocks have further 2024 upside

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

This article was written by Eamonn Sheridan at www.forexlive.com.