Records
Guess what? New records. New records for stocks.
A month on from the local lows ("all the way" down at SPX ~4970), the world's benchmark risk asset par excellence scaled a fresh high, spurred on by what counts these days as a benign read on consumer prices and an underwhelming retail sales release.
Core inflation's still a mile above target in the US, and I personally doubt it'll settle close to the Fed's goal anytime soon. Services inflation almost surely won't recede anywhere near 2%, someth
Plot the monthly combined pct of “soft + no” and lay over a monthly SP500 chart. Pretty similar. I think that while equity investors prefer “soft”, they can find things to like about “no”.
Same exercise is less clear for TLT. Its monthly chart looks more like “soft” than the other series, but not a close fit. Oh, bond investors – you’re so picky.
[Caveat: only plotted for the 6/23-5/24 period in Dr. H’s post.]
Well, as we SHOULD know that “dip to buy” was merely the weekly SPX 20EMA. Cmon you did not think that uptrend was going to be broken did you bears?
I don’t follow right wing media as I consider it mostly lies and propaganda preying on peoples’ bitterness and ignorance, but I assume Trump has claimed that he’s the reason for the new record highs…?
Yes — it’s all in anticipation of his reelection when we will get tax cuts for all, improved healthcare, an infrastructure plan, peace everywhere, a balanced federal budget, restocked shelves at the Pentagon, and finally getting US oil and gas production off the snide. All the details will be out “in about two weeks,” so stay tuned. And just to be clear, my sarcasm does not extend to his taking credit for the new highs to be in anticipation of his reelection. That much is true.