Rates And Stocks From The Rooftops

Rising rates are a problem for richly-valued equities. Did you hear? If not, just step outside into a community of market participants and somebody will be shouting it from a rooftop. Roosters perched on rows of Toll Brothers homes which, despite being built-to-order, are nevertheless uninteresting: "The stock-bond correlation turned negative again last month! It's still negative!" ("Honey, come down off the roof, ok? You've got a Zoom meeting in 10 minutes.") The financial media, which lives