Market Insight June 27, 2021

Weekly Commentary & Strategy

Are stocks on steroids or they are playing great music indifferent of what future is holding, just like Titanic?
Last week, stocks went on to set a new record high while the long-end U.S. Treasury nominal yield was marginally lower. Our message is “welcome to the topsy-turvy world of the 21st century policy making”, with extra loose monetary policies and generous QE that derailed economics from what we knew them and hammered real interest rates. In terms of economic events or financial news, not much has changed since mid-April. Two factors
can be identified in this bull market rally…: