Cuatro posibles aspectos positivos del aumento de los rendimientos de los bonos
El fuerte incremento de los costes de financiación ha generado una alarma justificada, pero también existen beneficios. Leer
1. The surge in bond yields, driven by rising financing costs, has understandably sparked concern, but it also presents potential advantages for investors.
2. The U.S. 10-year Treasury bond yield has surged by over 0.5 percentage points in the past month and 1.3 points since the start of the Iran conflict, reaching levels not seen since 2007.
3. Real yields, adjusted for inflation, reflect the true cost of capital, while the acceleration of capital spending due to AI, defense, and infrastructure investments may be behind the increase in real yields.
4. Higher real yields could encourage capital discipline in governments and businesses, even if this doesn't necessarily limit capital expenditure. In fact, real yields and corporate capital spending have tended to move in tandem over the past 40 years.
5. Elevated real yields may lead to more productive capital spending, contrary to the belief that low interest rates reduce investment. The shift in investor compensation from dividends and share buybacks to capital investment suggests a change in investment priorities.
Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
