NEW YORK, Nov 4 ― Hopes that a rout in Treasuries has run its course are tempting some investors back into the US stock market after a months-long selloff. The relationship...
#trending: Malaysia-based actress encounters ‘rude’ Grab driver in Singapore; says he told her to ‘walk it’ after missing her destination The relationship between stocks and bonds has been a tight one in recent months, with equities falling as Treasury yields climbed to 16-year highs. — Reuters picNEW YORK, Nov 4 ― Hopes that a rout in Treasuries has run its course are tempting some investors back into the US stock market after a months-long selloff.
“The stability in rates is helping other asset classes find a footing,” said Jason Draho, head of asset allocation Americas at UBS Global Wealth Management. “If equities move higher you may find investors starting to feel as if they need to chase performance through the end of the year.” At the same time, the last two months of the year have tended to be a strong stretch for stocks, with the S&P 500 rising an average of 3 per cent, according to data from CFRA Research. The best two weeks of the year for the index, during which it has risen an average of 2.2 per cent ― kicked off on October 22, according to data from Carson Investment Research.
Of course, plenty of investors remain hesitant to return to stocks just yet. Technology bellwether Apple Inc on Thursday was the latest of the market's massive technology and growth stocks to offer an underwhelming outlook. The iPhone maker gave a holiday sales forecast that was below Wall Street estimates. At least 14 analysts cut their price targets for the stock, according to LSEG data.
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