WS #14865
Holding: newest synthesis is 7d 18h old
Bond yields are climbing to two-decade highs, with market commentary explicitly linking the move to rising inflation and recession risks. This macro tightening is driving a defensive rotation, evidenced by massive short interest increases in REIT and large-cap value ETFs, signaling that investors are pricing in a harder economic landing and higher cost of capital.
Rising Yields and Macro Defensiveness
Bond yields are climbing to two-decade highs, with market commentary explicitly linking the move to rising inflation and recession risks. This macro tightening is driving a defensive rotation, evidenced by massive short interest increases in REIT and large-cap value ETFs, signaling that investors are pricing in a harder economic landing and higher cost of capital.