The Stock Market
The S&P 500 “Broken W” Path Out of Recession
The Consensus Path for S&P 500 is a “Broken W”
Why The Two Largest Equity Buyers of “Buy-the-Dip” Are Now Absent
The resulting collapse in US Treasury yields is spectacular on any measure. We believe investors have not had time to absorb that this is the death of one of the most popular carry trades globally.