Wall Street 2023 so far
Wall Street stocks wavered on Tuesday as strong housing data raised the prospect of higher interest rates taking the steam out of a weeks-long rally in US equities.
The weakness followed an unexpected spurt in new home construction that put housing starts at their highest level in more than a year.
Economists had forecast a slight decline
FT 20 June 2023
Mantra of ‘There Is No Alternative to equities’ fades...
... as fixed income rises in popularity
Why would you buy stuff with a negative yield, so you know you’ll take a loss on it if you hold to maturity? All Team Bonds can say now is that it made sense at the time — strange things happened in the zero interest rates era.
Now, though, bonds are back with a vengeance.
Katie Martin FT 23 June 2023
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