Surveillance: BOJ Jolt with BNY Mellon's Yu
Bloomberg Surveillance
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The Upside Risk of the Stock Market
When do you know it's gone, Steve, the upside risk or the upside potential for some of the risk assets? I think what you watch and what we're watching are going to be spreads. Spreads are one. When you start to see spreads move up, I think you need to see a little bit more deterioration in initial jobless claims. The unemployment rate would need to creep up on the back of that. If you start seeing that yield curve get back towards zero, historically, that's a sign that that's starting to happen.
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