But there are rising rate winners as well. American International Group, which can charge higher rates for insurance policies and get higher rates of return on its cash float, jumped 39 percent, on average, in the 30-day period following a rate surge.
Also from the insurance world, XL Group gained 19 percent on average 30 days after a one-week yield increase like the one we've just seen.
Carmax, which will be able to charge more for auto financing, jumped 18 percent following an interest rate advance.
Some higher-end retailers, whose customers keep spending in tighter credit environments, were winners as well. Whole Foods and Starbucks were two that stand out.
Utility stocks, whose dividends look less attractive as bond yields rise, were the biggest market losers Friday morning. Their 1 percent decline pushed the sector from the top slot to the second among winning market sectors of the last 12 months, behind health care.
The group is still up 24 percent over the last year, but that may be hard to replicate over the next year if rates give investors an alternative to the power generators' hefty dividend yields.
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The chance of a Fed rate increase by March increased to 54 percent after the jobs report Friday, according to the CME's interest rate futures. The chances of a March surprise a month ago was at 48 percent.
Many Wall Street strategists have been expecting a rate increase by the Fed much later in the year. Morgan Stanley believes chances are the Fed will wait until 2016. Much like one's sector and stock picks, the bond market may be forcing a change in that strategy.
Disclosure: NBCUniversal, parent of CNBC, is a minority investor in Kensho.