Closelook at US Stock Markets - Post 4
Valuation compression stage 2 of risk-on assets has set in
Valuation compression stage 2 of risk on assets has set in. The current market decline will end when the 10-year/20-year notes/bonds rise has reached a short-term/intermediate end. This may be around 4.5 % and would coincide with a real yield of 1.5 % (10Y minus CPI).
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