I caught up with Chris Watling from Longview Economics on Tuesday, and as always he had some interesting ideas and charts. He says:
A sustained rise in the 10-year Treasury yield matters a great deal for US equities and in particular for technology, very much the leading sector of Wall Street’s ageing bull run.
With the football world cup in full swing and already producing a fair number of shock results, investors are left wondering whether the second half of 2018 can deliver a dazzling performance.
Nothing gets the market pulse racing quite like the US Treasury 10-year note yield popping above 3 per cent for the first time in four years.