It’s off to the races for bond yields. That could easily mean more declines for the stock market. The 10-year Treasury yield has popped to almost 4.8%, up 1.2 percentage points from a major low point hit in September.

There’s room for stock markets to fall further as bond yields approach levels that have been painful for equities in recent years.

Trading in the U.S. bond market ended early, at 2 p.m. New York time, and U.S. stock markets were closed for the entire day to mark former President Jimmy Carter’s memorial. Whe

This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with: Last year, as Treasury yields climbed, stocks mostly shrugged off the move. The spin from strategists: Yields are rising because of expected economic growth,