Is Vaccine News Priced Into Bond Yields?

The video discusses the recent rally in European stocks and the potential impact of vaccine news on the market. It explores concerns about inflation and the likelihood of changes in monetary policy, predicting steeper yield curves due to economic growth and fiscal support. The outlook for European periphery bonds, particularly Portuguese yields, is positive due to low supply and ECB support. Emerging markets are expected to perform well, driven by a constructive global backdrop and growth in Asia, Brazil, Poland, and South Korea. Safe haven assets like gold and certain currencies are considered, though they are currently expensive.

What is the main economic story related to the vaccine according to the transcript?

• The wedge between weak consumer confidence and strong confidence indicators elsewhere

• The decline in global trade

• The immediate increase in consumer spending

• The rapid recovery of the tourism sector

What is expected to happen to the yield curves as economic growth picks up?

• They will invert

• They will remain unchanged

• They will steepen

• They will flatten

What is the outlook for Portuguese bond yields in the near future?

• They will become highly volatile

• They are expected to go lower

• They are likely to remain stable

• They are expected to rise significantly

Which region has been driving the growth story in emerging markets?

• South America

• Europe

• Asia

• Africa

Which asset is considered a good hold in a world of low real yields?

• Bitcoin

• Real Estate

• Oil

• Gold