About this episode
We notched a third day of gains in markets today, up now 11% on the S&P from the intra-day lows a few weeks ago in a broad-based rally in both stocks and bonds, and I have plenty to go around the horn in my video and podcast links below. I have also sprinkled in a few takeaways from over 20 portfolio manager meetings last week in New York to add to your listening pleasure. Take a listen, and reach out to me, Brian Szytel, with questions. Market Action Dow: +337 points, +1.07% S&P: +1.63% Nasdaq: +2.25% 10-Year Treasury Yield: 4.10% (+ 13 basis points) Top-performing sector: Real Estate +3.94% Bottom-performing sector: Energy -.05% WTI Crude Oil: $84.92 barrel +.40% Key Economic Points of the Day: Consumer sentiment came in lower than expected at 102 versus expectations of 105. The Richmond Fed index came in weaker than expected today at -10. The US Dollar was lower on the day by about 1%, along with interest rates across the yield curve that both aided today’s equity rally. Terminal Fed Funds Rate shown ending north of CPI in all of the last rate tightening cycles is shown below. Today we are at 3.3% versus 8.2%, and while those rates will likely converge, we just aren’t there yet folks… Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com