About this episode
Today's Post - https://bahnsen.co/47VBffb Today saw risk assets rally yet again with the Dow closing at another all-time high. It is interesting to see health care as the sector holding the defensives and lower beta names down. Consumer Staples and Real Estate have broken out a bit and Utilities have at least awakened, but Health Care has been the laggard. The Bank of Japan extended its policy of negative interest rates (it has been seven years now, for those counting), though most believe they will hike the policy rate up to 0% in 2024. The Yen remains quite weak against the dollar. Oil is down $20 from where it was in September (note, that was before the Hamas attack on Israel on October 7). The VIX is at $12.50, pretty close to the lowest it has been in five years, Credit spreads have tightened by 60 basis points just in the investment grade side, with high yield spreads tightening a full percentage point (and that is basically since Halloween). It would be hard to make up a series of data points that reflect a more favorable sentiment for risk assets than this. Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com