The Stock Market Rose 13 Percent as Treasury Yields Hit 5 Percent. The Usual Rules Didn’t Apply

Record profits have carried the market’s valuation math and made stocks cheaper in the process.

BY PHIL ROSEN, CO-FOUNDER AND CEO, OPENING BELL MEDIA; CHIEF MARKET STRATEGIST, PROCAP FINANCIAL @PHILROSENN

Not one investor in January would have predicted the stock market to rise 13 percent while the 10-year Treasury yield surged 100........

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