Finance

Financials, China, bitcoin should get boost from rising yields: BTIG

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While rising Treasury yields create jitters on Wall Street, BTIG’s Julian Emanuel is seeing opportunities.

The firm’s chief equity and derivatives strategist said Monday he thinks economically sensitive stocks, cryptocurrencies and overseas markets, particularly China, will get a boost.

“There’s a large subset of China ADRs [American depository receipts], some of which are levered to the financial sector, that have really shown a very close correlation to Chinese yields, which are rising alongside the U.S.,” Emanuel told CNBC’s “Trading Nation.”

The benchmark 10-year Treasury Note yield on Monday hit a fresh one-year high around 1.35%.

“This is the environment where that catch-up trade is…



Source cnbc.com

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