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Why SocGen Thinks The S&P Could Fall To 2,482
SocGen has seen enough.
This is pretty straightforward, so I'll just get right to the point: The bank says it's time to lower your equity allocation and the rationale is simply that 10Y Treasury yields look to have pushed above 3% on a sustainable basis and that's trouble under the circumstances.
Equities of course sold off hard in October and while weakness during the latter half of the month appeared to come courtesy of late-cycle jitters, ongoing de-risking from discretionary investors who
Is Jean Marie Evillard still there? he was buying gold & mining stocks when it wasn’t cool in late 90’s – Finally paid off in early 2000’s
I’ve noticed that on Fed bond maturity days (today)…the following market day the 10 year yield seems to increase. Fed balance sheet is dropping by 24 billion after today and then another 33 billion on 11/15. Based on some articles by the macro tourist in the past (which H has been so kind to link)…SPY has been down most times….and I’ve noticed most times TLT is down and TBT is up…guess we will see tomorrow