The 10 yr is -15bps to 3.55%, after the Fed said they would HIKE by 50bps in December. The way bonds are trading now would suggest the FOMC will EASE in 2023, which isn’t happening.
The dollar is down 1% against the Euro and risk is on.
Markets aren’t really rallying, but we are digesting yesterday’s gains quite well.
My Quant is +155bps and the final quant portfolio for 2022 was been posted. It has been an impressive year for that strategy, so good I’ve decided to allocate my trading account into a weekly version of it and trade tactically around it.
Fundamentally, we are doomed. EPS are down 30% YOY but markets want higher. So what can we do other than give in and follow the peanut shells?If you enjoy the content at iBankCoin, please follow us on Twitter