The S&P 500 gained 50 points during today's session, leaving the index within 0.5% of a new all-time record high. This upward movement persists despite the 10-year Treasury Note yield climbing to its highest level in 24 years.
Market participants are currently questioning the decoupling of these asset classes as the benchmark index nears historic peaks. The equity market remains less than half a percentage point from its record even as surging yields reach multi-decade highs.