Will a Hot CPI Report Widen the Gap in This Two-Tier Market?
Bonds are improving, but the stocks that should benefit aren’t responding.
From Bramo
What will be particularly hard felt will be the large amount (outstanding) of U.S.-denominated debt by non U.S. entities — particularly in light of the strength of the U.S. dollar.
Will this be the next “thing” to be concerned about?
Position: None
Diamonds Are Not Forever…
Position: None
This Is No Bueno for Forward Investment Returns
* Just ask Howard Marks, Lee Cooperman and others…
A low equity risk premium is at the core of my ursine market view.
Essentially, today’s “paper thin” ERP implies that market participants view bonds as more risky than equities.
And that is just stupid.
Position: None
If We Want a Lasting Rally, the SOX May Need to Fall Some More
It comes down to sentiment, which remains complacent. A little bit of fear would help provide the fuel needed to get stocks moving higher.
Oscillator Moves to Slightly Overbought
As I estimated, the S&P Short Range Oscillator moved to slightly overbought (at 0.06% vs. the previous day of -0.66%) after being oversold in the -5% area for several weeks.
I have no Index positions on currently.
Position: None
Tuesday’s Cannabis ‘Win’
Yesterday’s cannabis news was the first industry “win” in a long time! Here is a timeline of X posts on the announcement:
(20) DEA Pushes Forward on Marijuana Rescheduling Despite GAO Report / X
In the after hours and following the decision I added weed exposure.
Position: None
Bank Earnings Get a Cool Reception as Chip Jitters Linger
Memory makers fell again and the big banks missed Street expectations but Mag-7 strength kept the S&P 500 flat.