Bond yields have been inching higher in the last few weeks, rebounding strongly from 0.5% in the middle of last year. If yields continue to push higher and breach the 2% barrier, a 10% stock market correction could be in the offing, according to a survey of global fund managers conducted by Bank of America. Adding to this, the survey highlighted that fund managers believe that if yields touch 2.5%, bonds are likely to become more attractive than stocks.
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