T-Bills Yields Crash, Equities Surge

January 13, 2020/Coronation Report

If risk-free asset yields are driven low enough for long enough (and T-bill rates has been falling since October), then risk assets will gain in popularity. The equity market is booming, rather too quickly for our new Model Equity Portfolio to catch up (see page 3). On page 2 we examine the curious divergence of the current account from the trade account.

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