Thomas Lee, Fundstrat Global Advisors
Scott Mlyn | CNBC
The current decline in rates of interest implies that buyers ought to shift shift a few of their portfolio for the close to time period, in keeping with Fundstrat’s Tom Lee.
The 10-year Treasury yield was buying and selling underneath 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 issues about the course for progress stocks as higher charges may probably elevate prices for firms and expose excessive valuations in the sector.
Lee, who gained a big following in 2020 for his evaluation of the pandemic and his associated market calls, stated in a consumer observe on Friday that the retreat in rates of interest implies that a few of the sector developments in the market from earlier this 12 months ought to reverse in the weeks forward.