Thursday, July 29, 2021
Home Business Bond yields likely bottomed, these hard-hit stocks to rally

Bond yields likely bottomed, these hard-hit stocks to rally


Tom Lee, Fundstrat Global Advisors

Scott Mlyn | CNBC

Strategist Tom Lee told CNBC on Friday he believes Wall Street’s concern over slowing economic growth has likely reached its apex already, setting the stage for so-called epicenter stocks to rally in the coming weeks.

Lee’s comments on “Halftime Report” came one day after the yield on the benchmark 10-year Treasury note fell as low as 1.25%. The 10-year yield, which moves inversely to price, stood around 1.356% Friday afternoon.

“Now we’ve had, I think, a growth scare that really peaked yesterday. I think the headline might have been the Tokyo Olympics,” the co-founder of Fundstrat Global Advisors said, referring to organizers’ decision to ban all spectators at the summer games after Japan declared a state of emergency due to coronavirus concerns. That spooked investors and played a role in the 10-year yield hitting a level it had not seen since February, he said.



Source link

RELATED ARTICLES

4 Guidelines You Can Use To Easily Get More Sales

Sydney has seen unprecedented growth in the number of people doing online transactions. With an estimated 4.34% of the population going in for cashless...

HOW CAN AYURVEDA HELP IN LOWERING BLOOD CHOLESTEROL LEVELS?

High cholesterol levels can stimulate life-threatening diseases. Over time, a plaque build-up on the coronary arteries may lead to restricted heart flow, infection, heart...

Importance of a Property Site Visit in Chennai

Chennai is recognized as one of the fastest-growing cities by the US Forbes magazine. The sustained expansion of the automobile and financial services industry,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

4 Guidelines You Can Use To Easily Get More Sales

Sydney has seen unprecedented growth in the number of people doing online transactions. With an estimated 4.34% of the population going in for cashless...

HOW CAN AYURVEDA HELP IN LOWERING BLOOD CHOLESTEROL LEVELS?

High cholesterol levels can stimulate life-threatening diseases. Over time, a plaque build-up on the coronary arteries may lead to restricted heart flow, infection, heart...

Importance of a Property Site Visit in Chennai

Chennai is recognized as one of the fastest-growing cities by the US Forbes magazine. The sustained expansion of the automobile and financial services industry,...

Top 10 Hair Transplant in Pune

A hair transplant is a medical procedure used to treat baldness. The hair follicles are taken from the patient’s body and implanted where the...

Recent Comments