Waiting for Goldilocks
Government bond yields keep rising. The US 10-year yield shot up to 5.2%, its highest level in nearly 20 years. This pushed up yields for all other bonds. That was not a problem for stock markets – until it was. Equities continued...
Hawks to the rescue
It was a week heavy on narrative but, for the most part, light on stock market movement. President Trump bristled at Canada’s flirtation with Europe, tech leaders made a plea for slower AI development and attacks on Middle Eastern oil infrastructure continued....
Tightening up
More bond pain hindered stock markets this week. Despite stable US core inflation (2.4% year-on-year for August), Middle East re-escalation pushed oil prices above $100 per barrel and gas sharply higher. That forced the European Central Bank to raise interest rates for...
Pretty good, considering
We end the week with global stocks once again a little higher than they were last Friday, but bond prices a step lower. Global government bond yields – the inverse of prices – have now been steadily rising for over two months....