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1.Market Observations, 2.Strategy, 8.Was Sticky

6 June 2017 (AFR) – Defensive stocks shine in the ASX but fund managers fear a tumble

(6 June 2017, AFR, p28, by Myriam Robin)

‘The ASX’s key defensive stocks, which have soared since November, are trading at record highs and highly inflated valuations, making them highly vulnerable to a sharp correction should inflationary expectations pick up. For the past six months, yield-hungry investors have poured into Sydney Airport, Transurban and APA Group, pushing those companies and many other “bond-proxy” stocks on the ASX to all-time highs.’ <snipped…>

‘On the ASX, key defensive stocks hit a 2016 low-point on November 11 as bond yields surged off the back of the US presidential election. But bond yields have edged down since then, and Sydney Airport…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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