US 10-year Bond yield

As we’ve said falling bond yields is the catalyst for the current reinvigoration of the growth sector, there are another couple of important points to recognise:

• MM is bullish bond yields into 2022 and beyond looking to buy the closely followed US 10-years around the 1.25% area.
• Hence we believe the tweaking of portfolios towards a more overweight growth stance is likely to reversed before Christmas e.g. we are buyers of the Bank of Queensland (BOQ) 5% lower.