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Hedge Fund
Franklin Templeton Market Recap 10/21/2021
October 2021 - Hedge Fund
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Equities rallied into the close, with SPX finishing at a new record, led by Tech. However, attention was centered on breakevens, reaching 16-year highs. This does showcase that inflation expectations (fear of inflation) is a key market driver. It bears mentioning that despite flurry of headlines, the 10-year breakeven rates are not materially above where they were in 2003-2008 as well as in 2011-2013. But on an absolute level they are at a 16-year record. Mov