Timmer Questions 60/40 Portfolio Revival Amid Weakening Stock-Bond Link
Fidelity's Jurrien Timmer questions the 60/40 portfolio comeback as higher Treasury yields sustain a positive stock-bond correlation.
Japan's headline CPI came in at 1.9% y/y in August, below the 2.0% forecast. Core-core CPI also missed expectations at 1.7%.
These are the raw numbers; a detailed breakdown will be provided later.
Japan's headline consumer price index rose 1.9% in August from a year earlier.
The core-core CPI, which strips out both food and energy, came in at 1.7% year-on-year.
The core CPI, excluding only fresh food, also registered 1.7%.
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Fidelity's Jurrien Timmer questions the 60/40 portfolio comeback as higher Treasury yields sustain a positive stock-bond correlation.
The Bank of England is expected to raise Bank Rate to 4% on Thursday, its first hike of this cycle, with inflation at 3.5%.
Japan's services PMI rose to 51.7 in October, but the composite PMI slipped to 52.1, a five-month low, as hiring slowed and cost pressures persisted.
September data showed Australia's goods surplus at about A$2.8 billion, a seven-month peak, with LNG and metals exports up and gold imports down sharply.