SPX500 price actions are similar to those in 1978 (Today is 07/24/1978)
It is interesting to see how 10YR yields moved in 1987 and today.
The late July 1987, it was around 8.60%. By mid Oct, it shot up to above 10% . SPX500 hit the top on the 26th of Aug 1978 and 10YR yield was about 9%.
My point is that current move of yields are also similar to those in 1978.
It is possible that yields can move towards mid 3% and indices can make one more new high before yields shoots up above 4% and indices tank.
It is interesting to see how 10YR yields moved in 1987 and today.
The late July 1987, it was around 8.60%. By mid Oct, it shot up to above 10% . SPX500 hit the top on the 26th of Aug 1978 and 10YR yield was about 9%.
My point is that current move of yields are also similar to those in 1978.
It is possible that yields can move towards mid 3% and indices can make one more new high before yields shoots up above 4% and indices tank.