For much of the past three months we have seen the yield on the 10-year Treasury note and the S&P 500 move up together. They both reflect the improving economic data and conditions for the markets tracked by our Current Conditions Index. However, since the start of June, when the yields definitively moved above 3.5%, stocks and bonds have parted ways, with stocks flattening as yields moved up to 4%.

To see the rest of the article, please click on the link below: