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US 5-year Bond yields

Interestingly the shorter dated US bond yields have popped to fresh 19-month highs as rate hikes from late 2022 get built into financial markets. Our view at MM is this move has basically only just started and portfolios need to be constructed accordingly following years when falling interest rates provided a significant tailwind for the growth pockets of the market such as Healthcare and Tech.

MM remains bullish bond yields medium-term
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US 5-year Bond yields
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