US 10 Years hits 9 months high and the chart looks like climbing higher staying firmly above the 100 days MA. The yield is at 2.49% , if it hits the year high at 2.62, the Reits, Telcos and yield stocks will start to hurt , rising rates while boosting the banks will cause Technology shares to come under profit taking. The rise in yield is caused by the passage of the US reform tax bill in anticipation for faster economic growth and added supply of bonds to finance the impending budget deficit. If energy prices which is inflationary continues to rise bond yields will continue to accelerate upwards.
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