Why Higher Rates Haven’t Hurt Stocks More

If you're curious, stocks reacted just as they "should've" to the selloff at the long-end of the Treasury curve, and any extension (or I suppose "resumption" is the better word, given bonds rallied sharply this last week) of that selloff probably won't derail equities too badly. That's according to Goldman's David Kostin, who recycled some familiar analysis to assess recent price action across stocks and bonds. I've been over these numbers I don't know how many times, but given the extent to w