Yields are driving the stock market right now, putting a group of rate-sensitive stocks in focus as bond markets get some relief on Wednesday. The 30-year Treasury pulled back before climbing this week to its highest level since 2007, briefly topping 5.3%. Longer-dated bond yields in Japan, Germany and France also reached multidecade highs. Investors around the globe have been worried about persistently elevated oil prices due to the U.S.-Iran war and its impact on inflation — pushing yields higher. Yields did fall broadly on Wednesday after the Treasury Department announced it would at least double the level of government debt buybacks in the next few months, though they remained within reach of their multi-year highs. The sharp moves in sovereign bond yields have put some of the market’s most rate-sensitive stocks in focus. These stocks could be among the biggest beneficiaries if yields continue to fall and among the most vulnerable if the sell-off resumes. Using LSEG data, CNBC Pro screened the S & P 1500 for stocks with the highest 60-day correlation to the iShares 20+ Year Treasury Bond ETF (TLT) . Because bond prices fall as yields rise, stocks that have moved closely with TLT could come under pressure if the yields begin climbing again. But those same stocks would benefit the most if yields continue to fall. Here are the 30 select stocks from the list Luxury homebuilder Toll Brothers topped the list with a 60-day correlation of 0.71 to the long-term Treasury ETF. Homebuilders in general showed a strong sensitivity to the TLT. D.R. Horton , Lennar and Pulte Group all ranked near the top. The strong correlation with the homebuilders is not surprising. Higher long-term yields often feed into mortgage rates, which then weigh on housing affordability. Household product makers such as Stanley Black & Decker , Williams-Sonoma and Floor & Decor . Companies that sell discretionary products also showed a strong sensitivity to TLT. Since these are often bought with loans, higher borrowing costs can weaken their demand or push consumers to delay purchases. Brunswick , the parent company of Sea Ray, Boston Whaler and other boat brands, has a 60-day correlation of 0.62. Minnesota-based Polaris , a maker of vehicles such as snowmobiles, came in with a 0.59 correlation. Airlines were also prominent on CNBC’s Pro screen. Alaska Air, Southwest , Delta and United Airlines each had 60-day correlations ranging from 0.59 to 0.62. Higher yields can pressure airlines indirectly by raising financing costs and potentially cooling leisure travel demand, especially if broader financial conditions tighten. Other stocks on the screen vulnerable to rising yields included Builders FirstSource , PPG Industries , Simpson Manufacturing and Masco Corporation . — CNBC’s Nick Wells contributed reporting.
Yields are driving the stock market right now. These are the stocks with the most at stake
Aug 19, 2026
