Yields ‘Emphatically Not’ High Enough To Threaten Stock Valuations: Goldman

For as long as I can remember (which, admittedly, isn't usually very long given that prior to 2016, I had an expensive Balvenie habit), one bank has consistently warned that a two-standard deviation move in US bond yields will cause indigestion for equities if it plays out over a short enough timeframe. That bank is Goldman. Whenever bonds look poised to sell off materially, the bank tends to remind investors that it's not necessarily the size of the move that matters, as much as it is the rapi