13F Pro · Market Intelligence Briefing

A 12-basis-point yield shock resets duration risk across the entire tape.

When the 10-year moves 12 basis points in a single session and the 30-year crosses 5.12%, every long-duration equity valuation model resets — and the repricing was visible in eleven of twelve sectors falling today.

Committee position: 60/40Breadth: 1 of 12 sectors higherDispersion: 5.17 pts10 analysts

A 12-basis-point surge in the 10-year Treasury yield to 4.59% drove broad equity selling, leaving Energy the lone sector in the green as eleven of twelve sectors fell and Materials collapsed 4.26% on a sharp reversal in gold and silver miners.

Since the last briefing

Yesterday's position held that stagflation odds were hardening as tech bifurcated and duration assets retreated.

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The rest of this briefing

What drove the session and how it transmitted, the exposure table by persistence grade, where the committee disagreed, its verdict and weighting, and the falsifiers that would prove it wrong.

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