When growth rises

Andrew Bascand | Harbour Asset Management | 08 July 2013

Global economic growth improved in the last month. US, Japanese and European indicators have bettered market expectations, while some Chinese indicators remain weaker than expected. European business confidence has been improving off a very low base.

The market has been fixated on the fact that the bond sell-off has all been about Fed comments on tapering¹. While there is no doubt that the Fed has provided fuel for bond yields to rise, th...