Stock Market's Bogeyman Is Once Again On The Move

By Jan-Patric Barnert, Bloomberg Markets live reporter and strategist

There is no shortage of risks for stocks right now. But maybe the one most likely to cause the worst nightmares for investors is the march higher in bond yields and what it signals about inflation.

Yields have been on an upward trajectory for more than a month now, during which time global stocks happily added about another 8% to their rally. While it’s not unknown for equities to ignore what’s happening to rates, we could be getting closer to the point when that suddenly changes.