Akadia Capital CIO Michael Kao says higher long-end yields have stripped equities of their “bond floor,” leaving growth expectations as the main support for high-duration stocks. He also flagged signs of a capitulation bottom in TLT.
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Akadia Capital CIO Michael Kao says higher long-end yields have stripped equities of their “bond floor,” leaving growth expectations as the main support for high-duration stocks. He also flagged signs of a capitulation bottom in TLT.
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