• Rising interest rates have sparked a surge in stock-market volatility that’s seen tech shares take a sharp dive.
  • But investors should not fear rising interest rates, according to a recent client note from The Leuthold Group.
  • “Yields may be rising, but yield pressure is still extremely low because real growth is improving even faster,” said Jim Paulsen, the firm’s chief investment strategist.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

A spike in interest rates since the start of the year has accelerated a rotation out of high-growth technology stocks and into value stocks poised to benefit from a reopening of the economy.

The Nasdaq has fallen more than 10% over the past month as the Dow has soared to record highs, with a spike in the 10-year US Treasury yield acting as the main catalyst. It

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South Africa’s formal and informal drinking establishments were banned from selling alcohol for 19 weeks.

South Africa’s alcohol industry is estimated to have lost R36.3 billion in retail sales revenues in the on again off liquor bans between 2020, when the lockdown began, and when the latest one ended this month, according to a report. 

It is also estimated that the loss of sales has put more than 200 000 jobs at risk across the formal and informal sectors. 

The bans, which began with the hard lockdown last year, have been a source of contention for consumers, producers and traders. Government has justified its decision to halt alcohol sales as a means to prevent an influx of trauma cases at hospitals and to have beds available for Covid-19 patients.

Dry throats were a big issue for consumers, while the industry lamented revenue and job losses. In an alcohol industry

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