/biz/ - Business & Finance

https://bloom.bg/2yEeOvG

> The relentless rise in bond yields isn’t over and investors better prepare for less-than-stellar returns across asset classes, according to JPMorgan Chase & Co.

> The 10-year U.S. Treasury yield should rise steadily into late 2019 because the Federal Reserve will probably hike rates every quarter through the end of next year, strategists led by John Normand wrote in a note Friday. Their target is 3.5 percent as of the third quarter of 2019.

> “The bond market’s behavior and its contagion are symptomatic of late-cycle dynamics that will ratchet-up market volatility over the next year, leading most markets but equities to keep underperforming cash,” the strategists wrote. “Late-cycle vulnerabilities abound in terms of fundamentals and valuations, so justify very low absolute and risk-adjusted return targets across assets.”