Today is a special day – Kelley’s Birthday – thanks for all you do Kelley!!!
On to the market. How do you suspect the bounce in the value stocks and especially the banks is an oversold bounce vs. a fundamentally driven move?
- There was no catalyst other than just being down so much
- There has been no change in the U.S. Treasury yields and long-term inflation expectations
It is why we look for both to see a sustainable improvement, rather than go by a single day. It is however nice to see.
If you haven’t seen it yet, please take a look at our post yesterday in the Macro (gold) section – it is a really important one that suggests where there is an opportunity for improvement.
Follow the Fed – it prints the money
Past performance is not a guarantee of future results. Index returns are unmanaged and do not reflect the deduction of any fees or expenses.
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