Fast Money Recap June 12

• Benchmark 10-yr Treasury yields climb to 5.27%, highest since 2002
• A lot of financial models depend upon cheap money which isn't cheap any more
• The major concern is how fast the rates moved from 4.8% to 5.27%
• High rates means a lot of reasons to sell equities and there are not many reasons to buy
• Big pharma stocks to focus on BMY, LLY and SGP
• Regulatory approval of CME-BOT deal has paved way for further consolidation causing the sector to go higher today - ICE, NITE, ITG, JEF
• MCD replaced SBUX of Goldman conviction buy list but they are late to this call
• CAL breaking down on TA and on FA side high prices of jet fuel a big problem
• DISH just dipped out of its trend channel
• RIMM has been trading in a band $130-145, not at $175, buy if it comes back into the band
• MCD also trading band story
• T continues to hold the trading band
• AAPL was downgraded by an analyst from ThinkEquity Partners saying that the iPhone launch excitement is already priced into the stock while he kept the target at $130. During interview he also mentioned that the key thing to look at is how it is received by the consumers