Why rising bond yields are testing equity investors’ risk appetite
American novelist Ernest Hemmingway coined the phrase 'gradually then suddenly' in his 1926 Novel The Sun also Rises, and that seems an appropriate description of investor's reaction to rising bond yields.UK 10-year bond yields sit just shy of 5% compared with close to 4% in the middle of October, to reach their highest level since October 2007, on the eve of the financial crisis. This is higher t