It’s Starting

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S&P 500 met its daily setback, one that has potential to develop over Aug into a more serious one. Financials and consumer discretionaries are signalling a pause in the rally ahead – a pause as a minimum, gradual rollover to the downside is more likely. Bonds made a serious risk-off turn but the bullish juices haven‘t run out yet. Well, the rise in long-term bonds that I first called for to happen in mid May, is unfolding, and we have higher to go – yields have peaked, and Treasuries are now set to rise in reflection of deteriorating economy. Q2 2022 hedge fund letters, conferences and more Th…

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