Rising Bond Yields: What Level Is Goldilocks, And At What Level Does It Start To Hurt?

Dom Wilson on equities

1. With regards to equities, our view has generally been that the most important thing is not the exact number of cuts, but the confidence that the Fed will cut if growth slows.... and we have cleared that threshold already. 

2. If the market really starts to think that the Fed won't cut more than two or three times, that's where I think you have some vulnerability...in simple terms, if the market starts to imagine that the Fed might only cut into the mid fours.