Our call of the day from Evercore is looking at the phenomenon of bonds and equities moving together. And a move up could be coming.
Stock markets look set to kick off with small losses Monday, resuming the weakness seen in last week’s holiday shortened trading, as another big slate of earnings looms.Our call of the day, from a team of Evercore strategists led by Julian Emanuel, says stocks and bonds are “destined to move together” for... Stock markets look set to kick off with small losses Monday, resuming the weakness seen in last week’s holiday shortened trading, as another big slate of earnings looms.
Emanuel and team note some signs inflation is peaking, setting up the possibility of another risk on/risk on bout for stocks and bonds, that could begin with 10-year yields stabilizing near current peaks and speed up if that yield retreats below 2.55%. The buzz Bank of America BAC shares are up after reporting a profit fall that still beat forecasts, BNY-Mellon BK and Charles Schwab SCHW are all lined up to report results early,
Didi Global DIDI stock dropped 18% in premarket trading after the China ride-hailing firm reported a sharp fall in revenue over the weekend, and said it would hold a shareholder meeting next month to vote on a planned delisting from the New York Stock Exchange.
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