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While manystockbulls have for months focused on positive corporate fundamentals — most notably earnings growth — equities have also benefited from how appealing they look compared with other assets.
Treasury notes issued by the US government are yielding roughly 2.36%. And while that's above a multi-month low of 2.04% reached in September, it's still down from highs reached earlier this year.
If the yield for the10-year benchmarknote climbs above the crucial threshold of 2.5% that could start working against US stocks that are already close to the most expensive since the dot-com bubble, according to strategists at Societe Generale. For more on that story, click here.
In other markets news and views, there's a new biggest bull on Wall Street. There are three things that could destroy one of the greatest stock rallies of all time, according to Morgan Stanley. And a key recession indicator is getting closer to the danger zone — and the Fed can't ignore it.
On Wall Street, Goldman Sachs has struck a deal with Bloomberg to help its stock trading business. And we asked a top hedge fund recruiter what it takes to get a senior-level job these days.
Lastly, says he should take it "as a compliment" that people compared him to a James Bond villain.