(Bloomberg) -- Scott Minerd added to the cast of siren voices warning about the dangerous cocktail of surging bond yields and slumping stocks.
In a Twitter post soon after the yield on U.S. 10-year Treasuries punched through 3.23 percent to another seven-year high, the chief investment officer of Guggenheim Partners noted that the tug of war between stocks and bonds is a dominant theme. Risk assets face a new headwind, he said.
Rising rates and declining stocks echo shades of October 1987.
October 5, 2018The Nasdaq 100 Index fell another 1.2 percent today for its biggest weekly decline since March.
Two months ago, Minerd said that it was time to lock in gains and reduce risk. In mid-August, the 10-year yielded about 2.9 percent.
Read: Inflation Is the Missing Piece From Treasury Yields, Fed Liftoff
To contact the reporter on this story: James Ludden in London at jludden@bloomberg.net
To contact the editors responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net, Virginia Van Natta, Dan Reichl
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