The U.S. Treasury building in Washington, D.C., on Friday, March 19, 2021.
Samuel Corum | Bloomberg | Getty Images
Wall Street bank JPMorgan expects bond yields to keep going up, and has named more than a dozen stocks that are set to benefit.
The U.S. 10-year Treasury yield reached 1.77% on Tuesday — boosted by forthcoming infrastructure spending and coronavirus vaccine rollouts — a level not seen since January 2020.
Analysts at the bank expect that benchmark interest rate to reach 1.95% by the end of the year and they say a raft of global stocks will be able to withstand these higher yields — with one sector trading “very cheap,” per a research note published Monday.
These are the bank’s top picks, which have an estimated dividend yield of at least 3% and are all expected to outperform: