Thomas Lee, Fundstrat International Advisors
Scott Mlyn | CNBC
The latest decline in rates of interest implies that buyers ought to shift shift a few of their portfolio for the close to time period, in line with Fundstrat’s Tom Lee.
The ten-year Treasury yield was buying and selling beneath 1.5% on Friday regardless of a 5% rise in inflation final month. The yield spiked above 1.7% earlier this 12 months, which led to considerations concerning the route for progress shares as increased charges might doubtlessly increase prices for firms and expose excessive valuations within the sector.
Lee, who gained a big following in 2020 for his evaluation of the pandemic and his associated market calls, mentioned in a shopper be aware on Friday that the retreat in rates of interest implies that a number of the sector tendencies available in the market from earlier this 12 months ought to reverse within the weeks forward.