She's gunna blow! Yield harpoon aims at tech bubble
MacroBusiness Access Subscriber Only Content at 9:20 am on March 4, 2021 | 23 comments Millennials beware! You about to learn what markets are actually about. Stocks don’t only go up. Especially tech stocks. Sometimes they go down and a long way too. Let’s kick this discussion off with some charts. DXY continues its recent strength: US dollar index (DXY) Australian dollar versus EUR Australian dollar versus emerging markets Big miners were still strong: BHP, RIO, VALE, AAL Emerging market stocks High yield bonds EM and US The problem is yields which keep on rising in the US: US Treasury y...