Back to the future, in China

A recent and rapid rise in bond yields has sapped some life from the stock market. Julia Coronado, president and founder of MacroPolicy Perspectives, said that things are more stable at the start of this week. “We’re opening the week in a calmer mood,” Coronado said. She also said money is headed back into the stock market. “Everything is relative. So with interest rates having reset a little bit higher, sort of toward the post-pandemic economy scenario, stocks feel a lot better, that they’re not just shooting to the moon. Interest rates aren’t just shooting to the moon. Stocks can stabilize, commodities may be a bit more stable than they were last week.”