Bond Rout = Stock Rout?

304 Views09 Jul 2023 22:02
SUMMARY
  • The S&P 500 hit an air pocket last week and as it was rattled by the rout in bond prices.
  • As the index weakened, SPY formed a textbook island reversal with a measured objective of about 435, which represents a fairly shallow pullback.
  • Looking ahead over the next few weeks, current conditions argue for a corrective period or consolidation before equity bulls can regain their mojo.
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Cam Hui
Cross-Asset Strategist & Quantitative Analyst
Pennock Idea Hub
United StatesMulti-AssetCross Asset Strategy
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