Art Cashin Video: Rates 'dangerously close' to 'tripwire'

Art Cashin said the 10-year U.S. note yield is getting "dangerously close" to the range of 2.7 percent to 2.8 percent, a level that's been a "tripwire in the past" for the stock market.

In his daily video clip with Bob Pisani, UBS's Cashin said so far the stock market is "shrugging it off" but warned that could be due to new money coming into the market as August begins.

"We'll have to give that a couple of days to see how it plays out."