SCG & SYD – Approaching Oversold Levels

During the recent run-up in US interest rates, yield sensitive names have faced heavy selling pressure over the last 8 weeks.

However, as a “risk off” wave now appears to be hitting equity markets, it’s likely bond yields will consolidate, and in the process provide some selling reprieve for the yield sensitive names.

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SCG and SYD are two examples where we now feel the prices reflect good value.

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