Fundstrat's Tom Lee Sees Disconnect Between U.S. Bond Yields and Fundamentals Compared to Other Countries

Tom Lee of Fundstrat sees a disconnect between 10-year yields and fundamentals when comparing the U.S. to other countries.

U.S. yields are higher than Greece despite its worse credit rating and higher inflation.

Yields are also higher than Spain, Germany and Japan which have higher inflation rates.

Lee believes there's momentum pushing U.S. yields higher unrelated to fundamentals.

While there are reasons for the difference like central bank policy, Lee still sees it as divorced from fundamentals.