Investing.com - Not everyone on Wall Street is fretting over the yield on the 10-year Treasury note breaking 3%.
Fundstrat Global Advisors says the move is positive, as it "signals reflation, after a decade of emergency, ultra-low rates."
The firm says rising rates equate to higher nominal returns, which leads to faster earnings per share growth. especially for value stocks.
Fundstrat said a number of industries should perform well in the rising rate environment, including financials, machinery, aerospace and construction.
Banks, in particular, tend to benefit from higher rates, because the spread between what they lend and what they borrow widens.