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The green shoots of fiscal spending are happening across the globe, but it hasn’t gotten to a place where it is coordinated, said Elaine Stokes, portfolio manager at Loomis Sayles & Co, according to Bloomberg.  

The challenge for investors lies in working out when government spending will reach a critical level from where it will start pushing bond yields higher, Stokes added.  

Key quotes

In the next 5 to 10 years it (fiscal boost and its impact on yields) becomes a factor in markets.

So that’s where the market has to go — we have to turn to a rising rate environment from a falling rate environment.