Average 1-Month S&P 500 Return vs. Change in 10-Year U.S. Treasury Yields

When U.S. Treasury yields climb fast, the most expensive high-growth stocks often take the biggest hit. A sudden 50 basis point rise in the nominal 10-year yield over a month remains a near-term risk.

Image: Goldman Sachs Global Investment Research

Average 1-Month S&P 500 Return vs. Change in 10-Year U.S. Treasury Yields