21 May 2018

Bassanese Bites: Equities yield to bonds – Week beginning: 21 May 2018

Fear over higher bond yields and hurdles in China-US trade talks were the main drivers of weakness in US stocks over the past week.  A stronger than expected gain in US April retail sales – which indicates US consumer spending has bounced back nicely after unexpected weakness in early 2018 –  saw US 10-year bond yields breakout to a new high of 3.1% for the year.  An encouraging earnings report from US Department store Macy’s underlined the strength in the consumer sector.

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