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

When U.S. Treasury yields rise quickly, the S&P 500 typically faces challenges due to factors like decreased stock valuation multiples, especially for expensive mega-cap growth companies linked to low rates.

Image: Goldman Sachs Global Investment Research

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