A new phase in the financial cycle
The Treasury-bond yield curve flattens
GROWING UP IS hard to do but growing old is harder. As the business cycle matures and ages, it goes through phases, just as people do. These are mirrored in financial markets. Strategists like to talk in terms of early-, mid- or late-cycle investing. It is tricky to say when one stage ends and another begins, just as it is hard to delineate adulthood from adolescence. The markets drop some hints, though. The slope of the Treasury yield curve is one.
This article appeared in the Finance & economics section of the print edition under the headline “Holding back the yields”
Finance & economics June 26th 2021
- The international role of the euro
- Global markets adapt to a change in the Federal Reserve’s tone
- Three corporate giants are posing a stiff test for Chinese banks
- A new phase in the financial cycle
- An anniversary for free traders
- Europe’s biggest neobank wants to take over the world
- Economics needs to evolve
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