There are a lot of reasons to be negative now, Jim Cramer listed many of them in his recent Top 10 things to watch in the market notes. But does that mean we should be negative? That's the key question all investors need to be asking themselves as the 10-year Treasury yield reaches 16-year highs. Jim called it, "The tyranny of the 10-year," because soaring yields tend to really whack high-profile growth stocks as we've seen in tech this week.
In fact, the rising cost of capital along with unionization efforts and the third quarter's more than 28% rebound in oil may actually make these companies more valuable because they lead the charge on artificial intelligence, which plays directly into the automation efforts being pursued by management teams in an attempt to protect profits. We are not arguing that 10-year Treasury yields at these levels are a good thing.
Source: News Formal (newsformal.com)
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