Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999

Bloomberg2021-05-20

Correlation between bonds and stocks has flipped to positive Inflation concern injects volatility into both asset classes Bonds aren’t working as a safe haven like they used to. On a day when risk ...

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精彩评论

UJAYSAMA
2021-05-20
UJAYSAMA
Thanks for info
snjj185
2021-05-20
snjj185
Like and comment pls
x2doubt
2021-05-20
x2doubt
This taught me something important. Always be ready to adapt when you are trading. Boggleheads has worked for a decade until it doesn't.
- 7415988b:
  reply to me this comment plisss
- x2doubt:
  lol
- BuytheDip:
  why like this chub. btw, u ok today?
- 7415988b回复BuytheDip:
  gg very busy and missed missions
iImba
2021-05-20
iImba
Bonds no thanks
carene6666
2021-05-20
carene6666
Like comment pls
- Jazling:
  Respond pls
- Huathk:
  K
Poggki
2021-05-20
Poggki
Bondsssss

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In fact, the S&P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.\n\nThe relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.\n“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”\nThe stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. 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In fact, the S&amp;P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.</p>\n<p><img src=\"https://static.tigerbbs.com/43b0960f22ef872459ef2fdfd14cf74e\" tg-width=\"930\" tg-height=\"523\"></p>\n<p>The relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.</p>\n<p>“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”</p>\n<p>The stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.</p>\n<p>While the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.</p>\n<p>“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBonds Have Never Been So Useless as a Hedge to Stocks Since 1999\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131372875","content_text":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk aversion swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.\n\nThe relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.\n“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”\nThe stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.\nWhile the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.\n“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130300805,"gmtCreate":1621509123307,"gmtModify":1634188576726,"author":{"id":"3578910275789684","authorId":"3578910275789684","name":"snjj185","avatar":"https://static.tigerbbs.com/e45ea244c01111c173fee698249eeeee","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3578910275789684","authorIdStr":"3578910275789684"},"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130300805","repostId":1131372875,"repostType":4,"repost":{"id":"1131372875","kind":"news","pubTimestamp":1621502294,"share":"https://www.laohu8.com/m/news/1131372875?lang=&edition=full","pubTime":"2021-05-20 17:18","market":"fut","language":"en","title":"Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999","url":"https://stock-news.laohu8.com/highlight/detail?id=1131372875","media":"Bloomberg","summary":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility in","content":"<ul>\n <li>Correlation between bonds and stocks has flipped to positive</li>\n <li>Inflation concern injects volatility into both asset classes</li>\n</ul>\n<p>Bonds aren’t working as a safe haven like they used to.</p>\n<p>On a day when&nbsp;risk aversion&nbsp;swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&amp;P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.</p>\n<p><img src=\"https://static.tigerbbs.com/43b0960f22ef872459ef2fdfd14cf74e\" tg-width=\"930\" tg-height=\"523\"></p>\n<p>The relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.</p>\n<p>“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”</p>\n<p>The stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.</p>\n<p>While the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.</p>\n<p>“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBonds Have Never Been So Useless as a Hedge to Stocks Since 1999\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131372875","content_text":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk aversion swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.\n\nThe relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.\n“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”\nThe stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.\nWhile the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.\n“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130978807,"gmtCreate":1621508816709,"gmtModify":1634188581823,"author":{"id":"3566977358597597","authorId":"3566977358597597","name":"x2doubt","avatar":"https://static.tigerbbs.com/3568222443c539be8d2a37f9e8cbc6b0","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3566977358597597","authorIdStr":"3566977358597597"},"htmlText":"This taught me something important. Always be ready to adapt when you are trading. Boggleheads has worked&nbsp;for a decade until it doesn't.&nbsp;","listText":"This taught me something important. Always be ready to adapt when you are trading. Boggleheads has worked&nbsp;for a decade until it doesn't.&nbsp;","text":"This taught me something important. Always be ready to adapt when you are trading. Boggleheads has worked for a decade until it doesn't.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/130978807","repostId":1131372875,"repostType":4,"repost":{"id":"1131372875","kind":"news","pubTimestamp":1621502294,"share":"https://www.laohu8.com/m/news/1131372875?lang=&edition=full","pubTime":"2021-05-20 17:18","market":"fut","language":"en","title":"Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999","url":"https://stock-news.laohu8.com/highlight/detail?id=1131372875","media":"Bloomberg","summary":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility in","content":"<ul>\n <li>Correlation between bonds and stocks has flipped to positive</li>\n <li>Inflation concern injects volatility into both asset classes</li>\n</ul>\n<p>Bonds aren’t working as a safe haven like they used to.</p>\n<p>On a day when&nbsp;risk aversion&nbsp;swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&amp;P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.</p>\n<p><img src=\"https://static.tigerbbs.com/43b0960f22ef872459ef2fdfd14cf74e\" tg-width=\"930\" tg-height=\"523\"></p>\n<p>The relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.</p>\n<p>“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”</p>\n<p>The stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.</p>\n<p>While the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.</p>\n<p>“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBonds Have Never Been So Useless as a Hedge to Stocks Since 1999\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131372875","content_text":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk aversion swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.\n\nThe relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.\n“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”\nThe stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.\nWhile the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.\n“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4392003,"gmtCreate":1621521094607,"gmtModify":1635404456768,"authorId":3560673766995251,"author":{"id":3560673766995251,"idStr":"3560673766995251","authorId":3560673766995251,"name":"7415988b","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":130978807,"type":1,"supId":0,"prevId":0,"content":"reply to me this comment <u>plisss</u>","text":"reply to me this comment <u>plisss</u>","html":"reply to me this comment <u>plisss</u>"},{"id":4397279,"gmtCreate":1621561077204,"gmtModify":1635404023807,"authorId":3566977358597597,"author":{"id":3566977358597597,"idStr":"3566977358597597","authorId":3566977358597597,"name":"x2doubt","avatar":"https://static.tigerbbs.com/3568222443c539be8d2a37f9e8cbc6b0","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":130978807,"type":1,"supId":4392003,"prevId":0,"content":"<u>lol</u>","text":"<u>lol</u>","html":"<u>lol</u>"},{"id":4399119,"gmtCreate":1621568828805,"gmtModify":1635403858721,"authorId":3574529639292123,"author":{"id":3574529639292123,"idStr":"3574529639292123","authorId":3574529639292123,"name":"BuytheDip","avatar":"https://static.tigerbbs.com/e747a7fcf6ba7a0309d21475b62e76fa","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":130978807,"type":1,"supId":4392003,"prevId":0,"content":"why like this chub. btw, u ok today?","text":"why like this chub. btw, u ok today?","html":"why like this chub. btw, u ok today?"},{"id":4405382,"gmtCreate":1621617445633,"gmtModify":1635403373921,"authorId":3560673766995251,"author":{"id":3560673766995251,"idStr":"3560673766995251","authorId":3560673766995251,"name":"7415988b","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3574529639292123,"repliedAuthor":{"id":3574529639292123,"idStr":"3574529639292123","authorId":3574529639292123,"name":"BuytheDip","avatar":"https://static.tigerbbs.com/e747a7fcf6ba7a0309d21475b62e76fa","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":130978807,"type":1,"supId":4392003,"prevId":4399119,"content":"gg very busy and missed missions","text":"gg very busy and missed missions","html":"gg very busy and missed missions"}],"langContent":"EN"},{"id":130925429,"gmtCreate":1621506388461,"gmtModify":1634188597025,"author":{"id":"3573771226233818","authorId":"3573771226233818","name":"iImba","avatar":"https://static.tigerbbs.com/2253c7a4701d3d505950766c3e8c4837","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3573771226233818","authorIdStr":"3573771226233818"},"htmlText":"Bonds no thanks&nbsp;","listText":"Bonds no thanks&nbsp;","text":"Bonds no thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130925429","repostId":1131372875,"repostType":2,"repost":{"id":"1131372875","kind":"news","pubTimestamp":1621502294,"share":"https://www.laohu8.com/m/news/1131372875?lang=&edition=full","pubTime":"2021-05-20 17:18","market":"fut","language":"en","title":"Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999","url":"https://stock-news.laohu8.com/highlight/detail?id=1131372875","media":"Bloomberg","summary":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility in","content":"<ul>\n <li>Correlation between bonds and stocks has flipped to positive</li>\n <li>Inflation concern injects volatility into both asset classes</li>\n</ul>\n<p>Bonds aren’t working as a safe haven like they used to.</p>\n<p>On a day when&nbsp;risk aversion&nbsp;swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&amp;P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.</p>\n<p><img src=\"https://static.tigerbbs.com/43b0960f22ef872459ef2fdfd14cf74e\" tg-width=\"930\" tg-height=\"523\"></p>\n<p>The relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.</p>\n<p>“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”</p>\n<p>The stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.</p>\n<p>While the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.</p>\n<p>“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBonds Have Never Been So Useless as a Hedge to Stocks Since 1999\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131372875","content_text":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk aversion swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.\n\nThe relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.\n“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”\nThe stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.\nWhile the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.\n“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":130963769,"gmtCreate":1621504640751,"gmtModify":1634188604374,"author":{"id":"3581685137027755","authorId":"3581685137027755","name":"carene6666","avatar":"https://static.tigerbbs.com/9df897fb7cd3e029d1ce54ce071a3c2b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581685137027755","authorIdStr":"3581685137027755"},"htmlText":"Like comment pls&nbsp;","listText":"Like comment pls&nbsp;","text":"Like comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/130963769","repostId":1131372875,"repostType":4,"repost":{"id":"1131372875","kind":"news","pubTimestamp":1621502294,"share":"https://www.laohu8.com/m/news/1131372875?lang=&edition=full","pubTime":"2021-05-20 17:18","market":"fut","language":"en","title":"Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999","url":"https://stock-news.laohu8.com/highlight/detail?id=1131372875","media":"Bloomberg","summary":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility in","content":"<ul>\n <li>Correlation between bonds and stocks has flipped to positive</li>\n <li>Inflation concern injects volatility into both asset classes</li>\n</ul>\n<p>Bonds aren’t working as a safe haven like they used to.</p>\n<p>On a day when&nbsp;risk aversion&nbsp;swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&amp;P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.</p>\n<p><img src=\"https://static.tigerbbs.com/43b0960f22ef872459ef2fdfd14cf74e\" tg-width=\"930\" tg-height=\"523\"></p>\n<p>The relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.</p>\n<p>“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”</p>\n<p>The stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.</p>\n<p>While the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.</p>\n<p>“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBonds Have Never Been So Useless as a Hedge to Stocks Since 1999\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131372875","content_text":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk aversion swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.\n\nThe relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.\n“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”\nThe stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.\nWhile the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.\n“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4389872,"gmtCreate":1621507587378,"gmtModify":1635404624332,"authorId":3566821013640470,"author":{"id":3566821013640470,"idStr":"3566821013640470","authorId":3566821013640470,"name":"Jazling","avatar":"https://static.tigerbbs.com/85e0a83573d9307f57fca9b2baed72af","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":130963769,"type":1,"supId":0,"prevId":0,"content":"Respond pls","text":"Respond pls","html":"Respond pls"},{"id":4390053,"gmtCreate":1621508836820,"gmtModify":1635404608300,"authorId":3573472992263411,"author":{"id":3573472992263411,"idStr":"3573472992263411","authorId":3573472992263411,"name":"Huathk","avatar":"https://static.tigerbbs.com/43c7168c646d9ea6805194ed0003f1cc","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":130963769,"type":1,"supId":4389872,"prevId":0,"content":"K","text":"K","html":"K"}],"langContent":"EN"},{"id":130985724,"gmtCreate":1621504190168,"gmtModify":1634188607482,"author":{"id":"3564876523975472","authorId":"3564876523975472","name":"Poggki","avatar":"https://static.tigerbbs.com/96397c64f0a59449e5573036608f7d30","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3564876523975472","authorIdStr":"3564876523975472"},"htmlText":"Bondsssss","listText":"Bondsssss","text":"Bondsssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130985724","repostId":1131372875,"repostType":4,"repost":{"id":"1131372875","kind":"news","pubTimestamp":1621502294,"share":"https://www.laohu8.com/m/news/1131372875?lang=&edition=full","pubTime":"2021-05-20 17:18","market":"fut","language":"en","title":"Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999","url":"https://stock-news.laohu8.com/highlight/detail?id=1131372875","media":"Bloomberg","summary":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility in","content":"<ul>\n <li>Correlation between bonds and stocks has flipped to positive</li>\n <li>Inflation concern injects volatility into both asset classes</li>\n</ul>\n<p>Bonds aren’t working as a safe haven like they used to.</p>\n<p>On a day when&nbsp;risk aversion&nbsp;swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&amp;P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.</p>\n<p><img src=\"https://static.tigerbbs.com/43b0960f22ef872459ef2fdfd14cf74e\" tg-width=\"930\" tg-height=\"523\"></p>\n<p>The relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.</p>\n<p>“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”</p>\n<p>The stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.</p>\n<p>While the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.</p>\n<p>“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bonds Have Never Been So Useless as a Hedge to Stocks Since 1999</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBonds Have Never Been So Useless as a Hedge to Stocks Since 1999\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2021-05-19/bonds-have-never-been-so-useless-as-a-hedge-to-stocks-since-1999?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131372875","content_text":"Correlation between bonds and stocks has flipped to positive\nInflation concern injects volatility into both asset classes\n\nBonds aren’t working as a safe haven like they used to.\nOn a day when risk aversion swept across everything from stocks and commodities to crypto currencies, Treasuries barely budged. In fact, the S&P 500 and 10-year Treasury futures haven’t been so positively correlated since 1999, with the 60-day metric reaching 0.5 on Wednesday. In contrast, the average correlation over the past two decades was negative 0.3, meaning a decline in stocks was often accompanied by a rally in bonds.\n\nThe relationship flip signals that the role of Treasuries as a shock-absorber has been eroded as the fear of inflation becomes a common denominator for both stock and bond investors. If it persists, it would mark a sea change as strategies such as risk-parity and 60/40 are likely to become more volatile.\n“Long bonds as your hedge worked in a Goldilocks era” of stable growth and inflation, said Charlie McElligott, a cross-asset strategist at Nomura Securities. “But now, due to the pandemic response, that old dynamic simply no longer applies. Inflation is a volatility catalyst.”\nThe stock-down-bond-up scenario that investors have grown accustomed to has only been a staple since 2000. Earlier, a positive correlation had been more common as inflation was more volatile.\nWhile the core U.S. consumer price index increased in April at the fastest pace since 1982, the Federal Reserve has insisted the surge is “transitory” and the central bank will be patient in removing monetary stimulus. If the Fed is right, the bond-stock correlation could normalize, said McElligott.\n“Only in the case of an extreme inflation overshoot would the Fed’s hands be tied,” forcing it to raise rates more quickly and crash both bonds and stocks, he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":29,"commentSize":12,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1131372875"}