Julius Baer: Maintain bullish equity stance despite an overestimated risk of rising yields

4 May 2018 | 1 minute read

According to Julius Baer’s head of equities and global equity strategy, Patrik Lang, rising yields are overshadowing the strong earnings season (Q1 EPS consensus growth projections have increased from 18% at the start of the season to 23.6% today). Although rising yields imply higher discount rates and lower equity valuations, Lang notes that the post-WWII, the S&P 500 has exhibited…

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