Trivariate Research's Adam Parker says the market reaction to rising yields is 'fleeting'

• Market reaction to rising yields is 'fleeting' and not a long-term concern for equities.
• The economy and corporate earnings are strong enough to 'power through' current yield scares.
• Historically, there's no statistically significant relationship between changes in rates and changes in equities over the long term.
• Growth stocks like NVIDIA and Micron are under pressure, while software stocks like Salesforce and ServiceNow show strength.

Adam Parker, Trivariate founder and CEO, discusses the market's reaction to rising Treasury yields, particularly the 30-year yield topping 5.33%. He characterizes the market's negative reaction, especially in growth stocks, as 'fleeting' and believes the strong economy and corporate earnings will power through. He advises against changing long-term portfolio positioning based on current yield movements.