China Evergrande is already taking a back seat to rising bond yields when it comes to worries for stocks, and especially the growth end of town i.e. Tech & Healthcare. Importantly rising bond yields are a global phenomenon which adds weight to our view that it’s a trend with much further to unfold – we are looking for US 10-year bond yields to test 2% by Q1 of 2022.
MM is bullish bond yields into 2022
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