BofA Securities' Savita Subramanian believes that the recent jump in Treasury yields is not a negative sign for equities but rather a positive signal for the economy. She sees companies shifting their focus to efficiency and productivity, utilizing tools such as artificial intelligence and automation. Subramanian has a positive view on stocks, stating that productivity will drive the next leg of the bull market. She also believes that sectors such as industrials, energy, and financials are well-positioned to handle higher interest rates. However, she cautions that stocks won't increase in a straight line and expects some volatility.

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