Second FOMC
S&P 500 refused further decline, but picture is far from impending rebound strength. One though can‘t get rid of the impression from Kashkari‘s speech (the Fed is happy about the…
Bears Calling
S&P 500 cratered as Powell indeed delivered credibly, and the markets were surprised even though his speech merely confirmed the known positions – albeit using strong and direct language such…
Not Batting Much of an Eyelid
S&P 500 rejected shallow downside, and easily continued pushing higher – bonds aren‘t turning risk-off, but HYG is getting into an extended (vulnerable) position. So far, markets have largely ignored…
Bonds Get It Right
S&P 500 did another daily reversal, but the bears haven‘t yet won. The risk-on in stocks hasn‘t been broken as value demonstrates, but bonds are getting the macro picture right,…
Unclosed Gap
S&P 500 bulls made a good run, but didn‘t deal with the bearish outcome looming, The renewed tightening bets spurred by strong headline NFPs figure, will take their toll on…