Stocks Crush ‘Year of Bond’ in Biggest Sentiment Shift Since ‘99
- Fixed income underwhelms as Teflon economy strands bears
- More than half of JPMorgan clients now see no recession
This article is for subscribers only.
All the chatter back in December was that 2023 was to be the “year of the bond.” And for a brief moment or two in the winter, that call — and the economic doom-and-gloom that underpinned it — looked right.
It is now being overrun, though, by an avalanche of demand for equities that has unleashed a furious rally across the globe and, in a sign the gains are likely far from over, made investors more optimistic about stocks relative to bonds than at any point since SentimenTrader models began comparing them 24 years ago.