11.   Higher interest rates hurt company earnings and the size of dividends paid shareholders.

12.   Higher interest rates raise company borrowing costs, reduce earnings and the size of dividends paid shareholders.

13.   Higher-than-expected inflation would push borrowing costs higher, which will hurt company earnings and the size of dividends paid shareholders.

14.   Higher borrowing costs hurt company earnings and the size of dividends paid shareholders, making equities less attractive than fixed-income securities to many investors.

15.   Higher borrowing costs hurt company earnings and the size of dividends paid shareholders, making fixed-income investments more attractive than equities to many investors.

16.   Higher borrowing costs, in turn, can hurt company earnings and the size of dividends paid shareholders.

17.   Higher borrowing costs, in turn, hurt company earnings and the size of dividends paid shareholders.

18.   Higher inflation may force the central bank to raise local interest rates, which might hurt company earnings and the size of dividends paid shareholders.

19.   Higher interest rates can hurt company earnings and the size of dividends paid shareholders.

20.   Higher interest rates can trim company earnings and the size of dividends paid shareholders.