Higher Rates Lower Bond Prices. What About Stocks?
Written by Jim Welsh
Macro Tides Weekly Technical Review 22 February 2021
Higher Rates Compress Growth Stocks
In last week’s WTR entitled “Interest Rate Spike Could Derail the Equity Buying Binge”, I discussed why higher interest rates could lead to a quick decline:
“The market’s valuation is stretched but has been justified based on historically low interest rates which have been deemed low enough to support a P/E ratio of 20 for 2022 earnings. That is changing as Treasury rates have pushed higher and are now approaching the highs recorded in March 2020.
Source: http://econintersect.com/pages/investing/investing.php?post=202102222359
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