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Bank of Singapore: “Rising yields not death knell for equities”, but no more ‘Goldilocks’

Contrary to common belief, rising yields have historically had a positive correlation with rising equity prices, according to Bank of Singapore, which is maintaining its overweight call on the asset class with a preference for Europe and financials. The bank prefers a barbell approach with exposure to cyclical sectors (financials and consumer discretionary) and defensive sectors (healthcare and telecom). Its…

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