The 10-year Treasury yield topped 1.30% on Tuesday, a level last seen in February 2020. The 30-year rate also hit its highest level in a year.
With the markets at all time highs, "corrections may be coming," followed by more gains," says Tony Dwyer, analyst at Canaccord Genuity. "We still believe the market is ripe for a pullback, but the focus should remain on our core fundamental thesis and the global reflation theme," Dwyer wrote in a note to investors.