JPMorgan tells worried clients rising yields can help stocks

LONDON: Many of JPMorgan Chase & Co.’s clients are worried that the rise in bond yields threatens the stock market rally. For the broker and a number of major fund managers it’s actually a blessing.

This month’s retreat in fixed income has fueled concerns about the possible risk to the equity bull run. Yet, so far, the stock market has defied the doomsayers, and the reason behind the jump in yields -- improved economic optimism -- has reassured the likes of Eaton Vance Management and Fidelity International that the rally can continue.