Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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Now, if the USD was to breakout from here and the UST 2yr Yield (also in Top 27) were to break-down back to Bearish @Hedgeye TREND, we’d have clearer “bond market” signals that it’s #Quad4 and not #Quad3. Then, of course, there’s still the high probability of #Quad2 economic data (specifically #Quad2 Earnings Season and pending US Employment reports) that can easily steal Macro Tourist attention away from being epidemiologists. So, yeah, there’s a lot to think about. There always is. But I don’t get caught up thinking about “variant” and “valuation” centric theories. I go with what is the highest probability according to the market signals themselves. |
