Sunday, July 24, 2016

Bonds And Stocks To Undetake More "Table Turning"

David Rosenberg: Bonds are the new stocks and stocks are the new bonds

So the equity market has taken off again and the major averages continue to hit new highs. In this last leg of the trade, the defensive rate-sensitives have seen a round of profit-taking but this has really not put much of a dent in the year-to-date price gains in the S&P 500 Telecom (+21 per cent)…