Global Macro Service > Research Briefings > United States

Macro Musings: Will bond vigilantes take away the punch bowl?

Spiraling Growth and inflation expectations are driving up bond yields and taking a toll on the stock market, raising fears the party is ending even though the Fed has no intention of taking away the punch bowl. By itself, increasing yields does not spell doom for the bull market in stocks; much depends on what investors perceive is behind the rise.

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