Payne's Perspective: February 14, 2022: Too Much Noise - Too Much Panic
There were few places unscathed last week. In the S&P, Energy (XLE), Financials (XLF) and Materials (XLB) held up, but stocks were hammered, and bonds reversed out of a tailspin.
After the longest correction in history, bonds reversed course on Friday, as everyone raced to get the most prestigious asset in the world in the face of a potential invasion of Ukraine.
It’s hard not to see yields moving back up and bonds stumbling again – you have to be in stocks, but right now, cash is king.
10-year bond Yield (five-day chart)
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