EQUITY MARKETS RISING COUNTERACTS BOND SELL OFF
A lot of attention has been given to the sell-off in government debt markets, although as ever the reality has failed to match up to the hype. UK 10 year Gilts are still below their pre-Brexit levels, having been 2% last November. Meanwhile, US 10 year Treasuries are at 2.3% at the time of writing, back to where they were in the same month. While this does mean investors have lost money in these instruments, for us the real story has been the far more reassuring fact that equity markets have been rising at the same time. Read More…..