New Delhi, Sept. 11 -- A US 10-year Treasury yield of around 5 per cent should remain manageable for equities as long as economic growth and corporate earnings stay resilient, but a sustained rise towards 6-7 per cent could materially alter the market outlook, YES Securities said in a report.

The brokerage said apprehensions around a 5 per cent US 10-year yield were "overblown", as the recent rise in global bond yields increasingly reflected stronger nominal growth, a higher equilibrium real interest rate and synchronised monetary policy normalisation rather than deteriorating economic fundamentals or an imminent fiscal crisis.

"We therefore see 4.7%-5.2% as a tolerable higher-growth/higher-rate regime for equities; the thesis would cha...