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Market Looks To US GDP Release As Fed Goes Silent
For the next several sessions, US rates will take their cues from data and supply reception as Fed officials go silent ahead of the January policy meeting.
So far in 2024, Treasurys are lower, but YTD highs for bond yields didn't derail equities. Indeed, the S&P notched a new record despite sharply higher front-end yields and some token pushback from policymakers on aggressive pricing for rate cuts.
As discussed at length in the latest Weekly, it was somewhat refreshing to see stocks move
Rarely do is disagree or even agree to disagree, but “so far so good for stocks in 2024” Russell 2000 down 4.11% Equal weight S&P 500 down 1.22% The SPX itself even with it’s massive 0DTE manipulation is only up 1.35%. Just saying. Thanks again for all your hard work.
Did you read the Weekly? There’s a whole section in there on the Equal-Weighted S&P / RUT Vs SPX / NDX and market breadth in general. Go read that. You’ll love it.