Rates are at multiyear highs, yet stocks hit fresh records. Here’s how long the defiance may last.

Bond yields reached multiyear highs while stock market indices hit record levels in recent trading. LPL Financial noted that the historical relationship between bond yields and equity prices has reversed. The S&P 500, Nasdaq, and Dow Jones Industrial Average all closed at or near all-time highs despite elevated interest rates. Economists and market analysts have offered varying assessments on the sustainability of this pattern.

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