Returns | Change | Short-term (1-3 year) government bond | Long-term (7-10 year) government bond | ||
---|---|---|---|---|---|
Negative Correlation & Negative Changing Direction | Positive Correlation & Positive Changing Direction | Negative Correlation & Negative Changing Direction | Positive Correlation & Positive Changing Direction | ||
Stock Market | Downside | Flight to Quality (FTQ) | Negative Spillover (NS) | Flight to Quality (FTQ) | Negative Spillover (NS) |
Upside | Flight from Quality (FFQ) | Positive Spillover (PS) | Flight from Quality (FFQ) | Positive Spillover (PS) |