The positive correlation coefficient between the S&P 500 index and the price of 10-year US Treasury bonds has reached its highest level since 1999. Since the beginning of this week, with the 10-year US Treasury yield rising, the S&P 500 index is likely to record its first weekly decline since mid April. Goldman Sachs strategist said on Thursday that the positive correlation between US stocks and US bonds may become increasingly close, as US bond yields are currently at levels that could drag down all asset classes.