At the corporate level, the big downturn in equity prices has smashed company pension funds, forcing companies to put more money back into their pension plans. Anything that helps to stop the downturn in equities could be helpful.
More Quotes from Rory Robertson:
There's a perception that the economy is actually doing quite well, in particular the labor market. It's a fairly straightforward assumption the Fed would want to hike rates in March and perhaps in May. You might see bond yields go higher.Rory Robertson
This is the first time the new Fed Chairman has spoken to an audience other than politicians and it's a week before the next policy meeting, so it's no wonder people are tense.
Rory Robertson
It leaves open the door for the Reserve Bank to raise official interest rates sooner rather than later.
Rory Robertson
The sharp rise in mortgage rates that is now under way threatens to limit the refinancing boom, limiting the cash that will be dropped into U.S. consumers' hands during the critical holiday-shopping season.
Rory Robertson
If gross domestic product prints 2.75 or 3 percent, it's broadly where the market is. People put very little weight on the fact that any pressure on inflation in the U.S. is quite modest and that's breeding low and steady bond yields.
Rory Robertson
Just as the market overshot on the downside in yield in MayJune, the risk is that it now overshoots on the upside.
Rory Robertson
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