Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Global Head of Macro Strategy
Summary: Yesterday featured one of the quietest equity sessions in recent memory, although bond markets are beginning to send a rather loud signal, as US yields continue to rise all along the curve, particularly at the long end, steepening the US yield curve. A much larger than expected drop in US weekly jobless claims boosted sentiment on the US outlook. Gold and silver managed to extend gains despite higher yields.
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