I didn’t bother commenting much on last week’s “bondcano” debate in the MSM, from The Australian:
Australian stocks trading at a premium are looking vulnerable as the bond market “erupts” from recent lows, according to Credit Suisse, which names Transurban, Sydney Airport, Healthscope and Crown as among those on shaky ground.
Equity strategist Hasan Tevfik used the term “bondcano” to describe the volcano-like landscape of the Australian marketplace and flagged a tipping point where forces pushing bond yields lower for as long as 20 years have begun to reverse.
