The 10-year Treasury yield can get to 3.5 percent with “no trouble at all” for stocks, strategist Samantha Azzarello told CNBC on Tuesday.
10-year Treasury yield, which moves inversely to its price, hit 3.09 percent on Tuesday, its highest read since 2011.
“You get up to 4 percent and we think that starts to be punitive for stocks,” Azzarello, global market strategist at J.P. Morgan Asset Management, said on “Closing Bell.”
Michael Yoshikami, founder and CEO of Destination Wealth Management, also isn’t too concerned about the 10-year Treasury yield’s move higher because it hasn’t been a steep rise.
“If you look at history, if rates go up we’re OK as long as we have economic growth, which we do right now,” he told “Closing Bell.”
“It’s all about how steep that increase is. At this point it’s nothing to be concerned about, but certainly something to monitor.”
Stay with financials in rising rate environment: Pro