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Allianz chief economic adviser and well-known economist Mohamed El-Erian pays close attention to the bond market, as it can often be an indicator for future stock market performance and broader economic conditions.
Markets were slightly higher on Wednesday, leaving the S&P 500 to hover just below its all-time closing high of 4,796.56.
Danbury-based Union Savings Bank held a webinar on Dec. 11 providing an economic outlook for the coming year.
Asian equities were mixed, as Mainland China, Hong Kong, and India outperformed while Japan, Taiwan, and South Korea underperformed.
The three were the only ones among the 40 economists and strategists surveyed by Bloomberg who correctly predicted that the benchmark Treasury rate would rise over 4% to end this year near its current level.