Bond yields are currently driving the U.S. stock market trend. The 30-year Treasury yield briefly topped 5.3%, its highest level since 2007, while long-term yields in Japan, Germany and France also reached multidecade highs. CNBC identified the most rate-sensitive stocks by analyzing their correlation with the TLT ETF, which tracks Treasury bonds with maturities over 20 years. Toll Brothers topped the list with a 60-day correlation of 0.71, followed by homebuilders D.R. Horton, Lennar and Pulte Group, as well as airlines Alaska Air, Southwest, Delta and United Airlines, which showed correlations ranging from 0.59 to 0.62. These companies would be the biggest beneficiaries if yields continue to fall, but also the most vulnerable if the bond sell-off resumes.
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