SETTING THE TABLE FOR 2025 PART 2
Hello and welcome back to another edition of the No Straight Lines Investments blog, I very much appreciate your time.
As I shared last week, I believe a range-bound 10-year treasury would be an ideal backdrop for equities for 2025.
The first week of the new year thus achieves a green checkmark as yields were down 3 bps for the week.
Chart from Rich Ross, EvercoreISI
Using a longer timeframe, you can see the well-defined trading range for treasury yields.
Interestingly, past equity bull markets exhibit no definitive yield threshold that triggers a correction, as highlighted by Julian Emanuel of EvercoreISI:
What would cause yields to move outside of this well worn flight plan?
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Here’s what’s in store:
Portfolio Stocks - I do a refresh on the remaining 9 names in my holdings. Why should you care? The average, unweighted return is just under 48% since I began writing. More crucially, these are the sorts of ideas that could be additive to your returns, whether tactical or simply not in your usual sphere of thought.
Flows - if you don’t understand where the $$ are being allocated, you are missing out on a key part of the investing puzzle.
Charts of the Week - mostly my portfolio names, but some other gems as well.
Macro that Matters - I highlight the key releases from this past week around the globe. In addition, I make the case for Canadian equities right here, right now.
If this is it, thanks for reading and good luck with your investments.
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