10 year yield futures persistent strength in 10 year yield

Persistent strength in 10 year yield futures signals that long-term borrowing costs will likely stay high. This could keep pressure on equity sectors reliant on leverage, including REITs, private equity-backed firms, and capital-intensive industrials. Pfizer's historically inexpensive valuation is the icing on the cake. Shares can be scooped up by opportunistic investors for 7.5 times forward-year earnings, which is 25% lower than its average forward price-to-earnings (P/E) multiple over the last half-decade. "For me right now, I'm expecting it's going to take a bit longer for that to sort out. ... I'm leaning much more into one cut this year, because I think it will take time, and then we'll sort of have to see," Bostic said on "Squawk Box." Treasury market action shows 10 year yield futures absorbing risk hedges from equity traders. This hedging dynamic may precede heightened volatility across indices, as bond moves often lead stock repricing cycles.