After all, bulls were previously arguing that low yields were good news for equities, as they encouraged investors to move out of fixed-income assets in search of higher returns.
毕竟,多方曾认为低收益率对股价是一个好消息,因为这会鼓励投资者退出固定收益资产以寻找更高的回报。
GIC's first public annual report shows it has shifted away from fixed-income assets in recent years to focus on equity investments and alternative classes such as private equity and real estate.