Market Trends - Japan's two-year government bond auction saw the strongest demand since October [1] - Investors were attracted to yields that have approached the highest since 2008 [1]

Market Trends - Some of Europe's biggest public-sector issuers' dollar bonds are trading at yields below comparable US government debt [1]

base hits $1.2b aave tvl while solana bridges $839m btcthe single chain game is dead. money flows wherever yields are highest. adapt or disappear ...

Government Debt Market - Growing concern over widening fiscal deficits dented demand for long-term debt [1] - Yields for long-term debt from Japan and Germany to the UK and France rose [1]

Government bonds in Britain offer higher yields than those of any of its economic peers https://t.co/rJ8fVYmUJh ...

Tech Sector Analysis - Tech earnings continue to print well into the double digits, reaching all-time highs, driven by fundamentals rather than just multiple expansion [1] - The value of tech in portfolios is significant, especially with tariff uncertainty, making US growth exposure valuable [2] - Overweighting tech in portfolios can be justified if earnings continue to print and multiples expand, particularly if a tariff-induced slowdown occurs [3] - Quality active management is crucial within the tech sector, specifically within the "Magnificent 7" portion [4] Tariff Impact and Economic Outlook - The market is still awaiting the bite of tariffs, with a wide range of potential outcomes [5][6] - Commentary on consumer behavior and business investment decisions is important in assessing the impact of tariffs [6] - Focus should be on how tariff rates on major partners (Canada, Mexico, China) affect the economy, while monitoring GDP resilience [8] - There are concerns about the lower cohort, with negative year-on-year card spend and light comps in certain sectors [7] Investment Strategy - A balanced approach in a multi-asset portfolio is currently most appropriate [10] - Mid-single-digit yields on core fixed income are competitive with mid-single-digit earnings yields on equities, given elevated multiples [11] - The strategy is to remain patient, vigilant, and opportunistic, waiting for the next bout of volatility [12] - US growth is expected to be the dominant driver of 10-year Treasury yields in the long term, with yields in the mid-4% range commensurate with US growth [14]

Market Trends - Municipal bonds are expected to rebound after experiencing their weakest first half performance relative to US Treasuries in five years [1] Investment Opportunities - Attractive yields and inexpensive valuations are drawing investors to municipal bonds [1]

Australia’s debt manager is considering scaling back its issuance of ultra-long bonds as rising yields make funding more expensive https://t.co/IM19ID4HPf ...

International Markets - US stocks still have a home bias, but international markets offer catalysts beyond just a weaker dollar [1] - Europe benefits from lower rates and fiscal stimulus, China from AI, and Japan from corporate reform [2] - Emerging markets, including Korea, Taiwan, and Latin America, benefit from the resurgence in hardware within tech and the reorganization of global trade [2][3] - International opportunities are not all dependent on each other, providing diversification [3] US Market & Fiscal Policy - The market has largely priced in the "big beautiful bill," with short-term positive impacts on equity markets due to growth boosts [4][5] - The long-term impact of the bill includes a potentially ever-expanding deficit, estimated to be in the trillions, which could create a floor on yields [5][6] - The market seems to have gotten comfortable with tariffs around 14% or 15%, after a previous range of 2% to 25% [8] Market Resilience & Outlook - The market has shown resilience to geopolitical risks, the reconciliation bill, and recession risks [9][10] - The path of least resistance for the market is higher, given its resilience to various downside risks [10] - The market could become more rangebound in the second half of the year due to higher valuations [12][13] - Diversified portfolios are up 6% to 7% in the first half of the year [14] Bond Market & Yields - Resistance has been met around 45% on the 10-year Treasury yield [15] - Yields could drift lower throughout the year, potentially providing opportunities for investors [16] - Even if yields remain stable, the income cushion will generate a decent return further out on the curve [16]

Singapore government bonds are trouncing developed-market peers, and the rally may have legs as ample liquidity and limited supply continue to weigh on yields https://t.co/XwInIVVmd5 ...