- Risk assets continued their historic run last week with EM equities and commodities leading the way.
- Bonds sold off as the 10-year Treasury note yield broke above 1.20% for the first time since the lows last spring.
- The 10-year TIPS yield closed the week at 1.02%, near the all-time low and reflective of either extreme concern about inflation or lack of real growth or both.
- The leaders so far this year are US small-cap stocks, commodities (which has been broad-based but led by energy), and EM stocks.
For further details see:
Weekly market Pulse February 15, 2021