If rates rise and earnings stall, that will be a problem for equities.
The Fed will keep raising short-term rates, but longer term yields are likely to fall.
The minutes of the latest Fed meeting show remarkable uniformity among FOMC members.
The narrative that the job market was reaccelerating now seems off base.
I have a few takes on this along with some updated thoughts on how I'm positioning portfolios.
Right now the bias is to sell bonds that get tight rather than ride out the yield.
The huge $179 billion issuance this week is only the beginning.
Stock investors should be paying more attention to Fed policy, less to the 10-year yield.
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