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.
Attacks set European supermarket fridges to defrost again, likely causing millions of euros in damage. French stores and US bases were hit earlier.
For the second time this year, hackers have compromised supermarket refrigerators across Europe and left them defrosting, an attack expected to cause millions of euros in damage.
According to BNO News, the breaches took place overnight in Belgium, Luxembourg, Sweden, Ireland, Estonia and the Netherlands.
The units that were hit had been ordered to defrost and heat up to 158°F (70°C), ruining chilled food.
BREAKING: Swedish grocery giant ICA, one of Sweden's largest supermarket chains, says several of its stores have been hit by a cyberattack overnight, causing refrigerators and freezers to be remotely set to 50°C.
â GeoInsider (@InsiderGeo) November 2, 2026
The incident has likely resulted in large quantities of foodâŠ
These fridge hackers differ from many cybercriminals in that they are not trying to collect a crypto ransom or drain anyoneâs accounts.
Rather, the people behind the campaign appear to want to create disorder and inflict damage on Europe's physical infrastructure.
Refrigerators in hundreds of French supermarkets were also breached last month.
Thierry Cotillard, chief executive of IntermarchĂ©, told publishers at the time that he expects the damage to total âtens of millions of euros nationwide in a single day.â
Freezers at no fewer than six US military bases were likewise disrupted by a separate cyberattack in August. The Pentagon is now coordinating with French authorities in the investigation.
GérÎme Billois, a partner in Wavestone's Cybersecurity Business Unit, told The Guardian he expects the perpetrators to turn out to be young people, activists or state-sponsored actors.
He suggested the fridge incident was most likely a destabilisation attack âdesigned to convey the message to populations that they are not safe, to convey the impression that the government is falling apart, and ultimately to instil fear.â
âCurrently there are two international actors known for doing this sort of thing: Iran and Russia,â Billois said.
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Fidelity's Jurrien Timmer questions the 60/40 portfolio comeback as higher Treasury yields sustain a positive stock-bond correlation.
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