Are These Charts Whispering a Similar Message?

Is it a coincidence that 10-year Yield is breaking out of a multi-year bottoming formation, and that cyclical growth and inflation-sensitive names, such as Caterpillar Inc. (CAT) and Joy Global, Inc. (JOY), appear to be mimicking the same price path?

Not if the global economy is picking up in earnest, and not if perceptions about potential inflation also are developing, too.

Perhaps we are about to witness the global economy closing the performance gap with the equity indices, which should greatly benefit the cyclical and industrial names in early 2014.