Traders work on the floor of the New York Stock Exchange.
Rising bond yields and rising stock prices are sending the same message — a gusher of fiscal stimulus could help the economy grow faster.
The expectation is that Democrats, now with control of Congress and the White House, will approve even more fiscal spending than previously expected. That would result in more debt issuance and higher inflation and higher interest rates.
Bond yields have been rising quickly in response, and that raises concerns about what level they can reach before they begin to sting the stock market. But that actually might not be the right question to ask, some strategists say.