Inflation fears won't derail rally

SINGAPORE – Hospitalisations from the coronavirus are finally falling worldwide, and vaccination roll-outs are gaining pace. The world economy is on the rebound, government policy remains generous and earnings growth rates are set to break records in many regions.

Yet as growth recovers and corporate earnings pick up, so have 10-year global interest rates. The yield on the benchmark 10-year United States Treasury note now sits at nearly 1.5 per cent, up from a little over 0.9 per cent at the start of 2021.

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