Rates: The global bond rout is picking up momentum. Most bond yields are still below 2019 levels but are rising quickly.
The euro 10yr swap rate moved into positive territory for the first time since April.
Credit: Higher inflation tends to be helpful for leveraged companies (pushing up prices of commodities, real property, etc.). This chart shows the spread between Baa (BBB) and Aaa (AAA) corporate bonds vs. market-based inflation expectations (breakeven).
Energy: Alternative energy stocks have significantly outperformed traditional energy shares over the past year.
Equities: Global dividend yields are looking less attractive relative to Treasury yields.
Cryptocurrency: Financial firms offering crypto services have outperformed.
Food For Thought: Uninhabited parts of the US (green):
Edited by Daniel Moskovits
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