Shaping up to be a very good session that will have economists reworking their assumptions about inflation and the Fed. Market strategists are rethinking the debate of value over growth. Meanwhile, more great reactions from earnings as DocuSign, Inc. (DOCU), MongoDB, Inc. (MDB) and JOANN Inc (JOAN) surge.
The biggest tell of the session is the drop in ten-year yield.
Followed closely by decline in the fear index.
There is a knee-jerk selling in energy and financials. We’ll watch that as the notion of lower yields impacting the investment thesis, although global reopening helps the former.
Looking at this stuff, in the rearview mirror, always seems so easy but tension have been high, and risk elevated over the past month.
I am thrilled with the way the market has held up and think ideal conditions will remain in place.
The thing though, there is a ton of money on the sidelines still reluctant to commit. This means that the same game of rotation, re-rotation and re-re-rotation makes us nimbler than we want, but admittedly I love it.
It is more challenging than throwing darts.
Have a Great Weekend
Join the conversation as a VIP Member