Mark Newton, founder of Newton Advisors, forecasts an even bigger bid for bond prices as investors press pause on recent stock market gains. He warns it could mean pain for one sector in particular.
cracked below 1.6% earlier this week as investors rushed into safe haven bonds. Bond yields move inversely to prices.
," noting that it began a week ago when the stock market peaked. "Near term I can see further selling pressure in yields and/or buying of Treasurys thinking that yields pull back and really test those lows that we were seeing back last September."
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