Desde mediados de 2023, los bonos y acciones de EEUU han tenido esa correlación perfecta que perdieron los meses anteriores:
This has largely gone unnoticed, but Treasuries and Nasdaq stocks are now back to being positively correlated since mid-2023.
That's exactly what we experienced in 2022 when fixed-income instruments severely declined in tandem with US equities. It is important to note that during a brief period around the ChatGPT release and the AI craze, these two markets moved in opposite directions for approximately 6 months. As inflation potentially re-emerges and the government continues to grapple with a severe deficit funding problem, there is a likelihood of upward pressure on long-term yields, potentially impacting US stocks this year.
Let's not overlook the fact that an unprecedented $8.2 trillion of outstanding Treasuries will need to be re-issued in the next 12 months.
Algo no cuadra:
Abrazos,
PD : ¿Cuál es la diferencia entre la lujuria y el amor? El Papa Francisco dijo ayer: “La lujuria se presenta como un apetito voraz que impulsa a utilizar a las personas, a depredarlas y a robarlas en busca de un placer desordenado. En cambio, el amor verdadero es desinteresado, sin condiciones; es generoso, comprensivo y servicial.”
