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Investment Event - Recovery trade stumbles

Recent weeks have seen the recovery trade stumble with Treasuries rallying and value stocks underperforming
13 July 2021
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    Recovery trade stumbles

    Recent weeks have seen the recovery trade stumble with Treasuries rallying and value stocks underperforming

    There is no one obvious reason for this, with global growth concerns and technical factors possibly contributing to market moves

    The US economic outlook remains consistent with a higher level of Treasury yields and some outperformance in value stocks 

    Natural constraints to higher bond yields mean that equity valuations remain relatively attractive