Disconnect Between Rising Yields And AI Frenzy Driven Stocks Widens, Blow Out ADP Data
Portfolio Pulse from The Arora Report
The article discusses the widening disconnect between rising yields and AI-driven stocks, particularly the 'magnificent seven' (Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, Tesla). The iShares 7-10 Year Treasury Bond ETF (IEF) has fallen due to rising yields. ADP data indicates a strong jobs picture. The article also mentions that BlackRock is pushing for approval of a Bitcoin ETF. The article suggests that the current disconnect between rising interest rates and the 'magnificent seven' is not sustainable.
July 06, 2023 | 2:46 pm
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POSITIVE IMPACT
BlackRock is pushing for approval of a Bitcoin ETF.
BlackRock's push for a Bitcoin ETF could potentially increase its assets under management and revenues if the ETF is approved.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Apple is part of the 'magnificent seven' stocks that have disconnected from rising interest rates.
Apple's stock has been rising despite the increase in interest rates. However, the article suggests that this disconnect is not sustainable.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The iShares 7-10 Year Treasury Bond ETF (IEF) has fallen due to rising yields.
The ETF has fallen due to rising yields. As yields rise, bond prices fall, which negatively impacts the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80