Scott Mlyn | The Washington City Times
The Washington City Times’s Jim Cramer said on Friday that investors should stay away from so-called “story stocks” that are years away from profitability due to rising bond yields.
Equity investors are grappling with the implications of higher bond yields, Cramer said of “ Squawk Box, ” and “ that means the paradigm is we should go lower and go lower in the stocks that some big fund managers like, these are company stocks. all of which are based on 2030 figures. “
Cramer’s comments came shortly after the release of the February jobs report, which showed strong gains in the labor market and helped drive returns on the 10-year Treasury to a new one-year high. The Dow Jones Industrial Average also jumped after the jobs data, a day after a sharp sell-off on Wall Street.