Afternoon Note
It’s been a nice and steady session with stocks higher and the ten-year yield lower. This as another datapoint suggests inflation might be transitory after all. The Chicago Fed National Activity read came in much lower in April than March, and at +0.24, much lower than consensus. Maybe investors are still on eggshells, but you can sense improving confidence.
The bond market continues to exhibit more calm than the stock market. When it’s more frantic, it’s a sell signal. So when its chill, that should mean something as well.
There is a combination of quality tech (semiconductors) and speculative names (AMC and SPCE) reinvigorate individual investor confidence. I suspect the most consequential economic data happens Friday morning. So that might make a large swath of cash inaccessible, but it should also keep panic in check.
Comments |
Thank you Charles. Lorin K on 5/24/2021 2:26:43 PM |
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