Last quote by Chris Verrone
Chris Verrone quotes
Bond yields are going to go up, and you want to own banks and cyclical stocks when that happens.
The Street is very long 10-year notes right here, so the Street's on the wrong side of this.
This is a message that yields want to go up.
That is not the exuberance you often find at market tops.
My argument is that even though the market has been in a very narrow range, leadership and performance under the surface has actually been supportive.
When we look at some of the leadership stories out there semiconductors made new absolute highs and new relative highs this week.
I think that marks the upper end of the range. I'd be more inclined to take risk off as we approach those levels.
This is about yields, so long as the trend in yields is down, I don't think the valuation matters here too much.