Stocks and bonds sold off in tandem Thursday for the third time since June 27, with combined losses in the SPDR S&P 500 ETF Trust and the iShares 20+ YearTreasury Bond ETF exceeding 1.7 percent. The last time such a cluster of simultaneous declines occurred between the asset classes was during the taper tantrum in 2013. Then it was a reaction to the Federal Reserve hinting that it would reduce monetary stimulus. This time, the trigger seems more widespread, with central banks from Asia to Europe joining the U.S. in taking a more hawkish stance on monetary policy.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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