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It’s all coming down to the 10-year yield, the rate of change. The reason you’re seeing a little relief (today) is because it’s not going straight up, it’s taking a bit of a breather and the market likes that, the only game in town right now is going to be equities until those yields go up more materially and people can earn something in fixed income. There’s nothing to compete with equities and that’s why you’re seeing every 3% to 5% dip bought.

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Reuters 3 years ago

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