
A ‘Monster Vibe Shift’
Don't look now, but US equities are within shouting distance of record highs, on track for a 3.5% monthly gain to start 2025.
That's quite a reversal of fortune. The new year was off to an inauspicious start thanks in no small part to Treasurys which couldn't get out of their own way, trading heavy on fiscal concerns ahead of Donald Trump's second inauguration.
Last week was a turning point, though. Stocks and bonds rallied together when the BLS said both wholesale and consumer price growth co
“US equities” is within spitting distance of new highs only when measured against the SP500 which is heavily skewed by the Mag 7. Measured against equal weighted indexes and it is 3-5% below the highs depending on the index chosen. This remains a bifurcated market.