U.S. bonds about to bite stocks
U.S. stocks and bond yields have been rising together recently, influenced by factors such as the Iran war and inflation. However, higher borrowing costs are beginning to negatively impact equity markets, particularly as Treasury yields approach a critical threshold of 4.5 percent. Analysts warn that if yields exceed this level, further increases could pose significant challenges for stocks.
- ▪U.S. Treasury yields have reached a critical juncture at 4.5 percent, affecting the relative value of equities.
- ▪The U.S. equity risk premium has fallen to about 3.5 percent, nearing a threshold that indicates equities may struggle against bonds.
- ▪JPMorgan's equity risk premium proxy has dropped to 2.2 percent, a new low since the financial crisis.
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| Original publisher | The Globe and Mail |
| Canonical URL | https://www.theglobeandmail.com/investing/article-us-bonds-about-to-bite-stocks/ |
| Publication time | Wed, 27 May 2026 09:17:05 +0000 |
| Retrieval time | 2026-05-27T09:22:56.926Z |
| Last seen | 2026-05-27T09:22:56.926Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | h9hG79O-3Hup |
| Cluster logic | Grouped by semantic title/content similarity across sources within a rolling window. Same-publisher template collisions are excluded from coverage comparison. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
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| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
Basis: Derived from the published RSS/Atom feed. Contact: [email protected]. Reviewed: 2026-07-24.
Opening excerpt (first ~120 words) tap to expand
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountU.S. stocks and bond yields have been rising in tandem in recent weeks, with many investors attributing the move to the Iran war, inflation and an AI arms race. But some models now suggest higher borrowing costs are reaching the point where they start to drag on equities.Calculations on so-called equity risk premia (ERP) - the excess returns promised by holding equities over those on “risk-free” government bonds - differ widely depending on inputs and methodologies.Yet Societe Generale’s proprietary version, which the bank updated last week, reckons nominal U.S.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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