More on the impact of bear steepening on risk assets

Shares are down today as the FANG stocks retreat due to investor concern about growth companies in a period of rising rates. This is only a one-day impact though. The question is whether the caution regarding riskier assets will endure.
No sign this is risk-off yet
Earlier today, I made the point that a higher discount rate from rising interest rates is largely offset by likely higher earnings in a higher growth scenario. To the degree that long rates are rising because investors no longer fear ...


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