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No longer muted

Meaning of the day

Goldman's Scott Rubner nails it: "Market moves are exacerbated, and no longer muted, this is new, and changed today". This is very true, and very important going forward.

SPX - the only thing that matters

The "holy" trend channel since March lows. We are in the lower part of the channel, still slightly above the 50 day...

Source: Refinitiv

So rates matter after all?

Source: Refinitiv

JPY and the 10 year

Source: Refinitiv

Now: just an "in-between" recession

Source: Stifel

Disinflation, but...

Source: TS Lombard

It rhymes...

Source: Jeff Klein/Bloomberg

Defaults & Bankruptcies

Source: Barclays
Source: Barclays

NDX and the 1999 analogy

Source: Refinitiv