GLOBAL MARKETS CALL: Bull Market In Stocks Despite Bear Market In Bonds

Bond yields are rising worldwide, but that's not stopping the global bull market in stocks. For now, investors are reading higher yields as a sign of economic growth rather than a threat to it, so the "Go Global" trade is still working.

South Korea and Taiwan are back at the top of August's leaderboard after July's shakeout. The AI-linked markets that led all year are leading again. The laggards are markets with domestic problems, not those exposed to the global business cycle.