An honest finance columnist

Tony Jackson in yesterday’s Financial Times (subscribers only):

To sum up, if I am asked what the rise in bond yields means for equities, the honest answer is I don’t know. I make no apologies for that. There are simply too many variables. To my mind, anyone who feels sure of the answer at this point has not thought it through.

I can’t recall reading another finance columnist with such refreshing honesty. In financial arguments, for all the reams of analysis published every day, the truth is often that nobody knows anything. Few are willing to admit it.

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