Editor's Note: Below is a brief excerpt and chart from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.
With US Durable Goods (ex-aircraft & defense) #accelerating to a 37 month high of +6.5% year-over-year growth on Wednesday, what you also got was what’s been bullish for both the Nasdaq and High Yield in 2017 = a bullish profit cycle #accelerating.
Oh, but KM, “the yield curve is flattening”…
Duh. When the 2yr US Treasury Yield goes straight up (on Oil and reflation straight back up) by > 50 basis points since September, the curve is going to flatten ahead of the Fed’s December hike. What if you shorted US growth stocks on that?
(Tech (XLK) was up +1.8% last week to a rip-roaring all-time closing high of +33.4% YTD)
