10 year Treasury yields rose sharply in the US at the end of February, and it caused the technology sector, which is largely priced on the promise of future growth, to experience quite a downdraft. The market is not so tolerant now of companies which are highly leveraged on promise, and if inflation is round the corner, bonds sell off and yields rise. The US 10 year at 1.5% is now as high as the yield on the SP500 and it is giving pause for thought.
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