19 February 2018

Bassanese Bites: What correction? – Week beginning: 19 February 2018

Having dropped 10% from its late January peak, the US market has now broadly recovered half its losses.   Helping stocks last week was the fact that long-term bond yields also remained reasonably well contained, with US 10-year bond yield only lifting 2bps to 2.87%.  The $US, meanwhile, remains extremely unloved, dropping a further 1.5%, with analysts using concerns over America’s widening Federal Budget deficit as the latest rationale.

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