Increasing bond yields is bad for most equities, except for .......
BANKS because they represent increased interest income. If yields continue to increase, bank stocks will boom while the rest of the market will suffer. $Citigroup (C.US)$ $Morgan Stanley (MS.US)$ $Wells Fargo & Co (WFC.US)$ $Bank of America (BAC.US)$ and others who have coincidentally reported fantastic earnings this week, are significantly undervalued and their upside is undeniable. PT for Wells Fargo and Bank of America could be $60 by next earnings. PT for Morgan Stanley of $115 and $200 for JP Morgan are realistic possibilities 3 months from now IMO.
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I block accounts with no name, pic, trading history or posts that try to follow me. Sorry hedges
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Yew-SG :
jchin : seems like C is under pressure though