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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US
- US long-term bond yields have been surging in the past week following Fed's 'hawkish' signals last week, with policymakers now clearly expecting to announce a taper at the next meeting in November, with the process ending in mid-2022.
- US 10Y yield is up over 20bps in the past week, breaking above the 1.50% level this week.
- Interestingly, the recent spike in US bond yields have not led to an outperformance of value stocks (relative to growth stocks).
- This chart shows that higher LT bonds yields have historically been associated with an outperformance of value stocks over growth stocks (and vice versa).
- Hence, further upside pressure on LT US Treasury yields could eventually lead to a sudden rally in value stocks.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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