Morning Market Commentary & Weekly Charts

Global Equity Markets, what next?  Overheated?  Or much more to go?  While funds continue to flow into stocks, as we were forecasting since mid-December, money continues to move away from the bond market; particularly treasuries that have seen yields spike almost 400 basis points since the start of December.

Treasury yields have broken firmly above a long-term declining trend line that had remained intact for almost two years, diverging from the positive trend of equity markets over the same period.

012813 CGI Morning Market Commentary