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Keep an eye on bond yields

Amid concerns about rising US inflation, we think investor focus will soon return to bond yields. Higher yields pose a threat to equity markets – making equities look relatively less attractively valued and raising corporate borrowing costs. But corporate profits remain strong and equities retain their appeal relative to bonds. If inflation replaces stagnation as investors’ primary fear, diversified portfolios are likely to be more volatile than usual.

Drive for show and putt for dough?

The old golf adage goes that you “drive for show, and putt for dough,” suggesting that accuracy is more important than distance in golfing success. Columbia University Professor Mark Broadie had a different take. He crunched the numbers and found that distance in fact explains the majority of success.

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House View Monthly U.S. Planning is everything

CIO Wealth Management Americas discusses emerging risk scenarios and what investors can do to prepare.

Quarterly update A minute with Mike Ryan

Find out how to position your portfolio in the fourth quarter.

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