In today’s briefing:
- Key Supports Holding Strong; 10-Year Treasury Yield Below Key Resistance; Buys in Non-Defensives
Key Supports Holding Strong; 10-Year Treasury Yield Below Key Resistance; Buys in Non-Defensives
- Last week (Aug. 18) we discussed the 10-year Treasury yield and DXY testing respective resistance (4.3%-4.35% and $103.50-$103.70).
- As long as no decisive breakouts in the 10-year yield or DXY, we were buyers on the pullback to $93 on MSCI ACWI (ACWI-US).
- Outside of our overweight countries (Japan, India, Taiwan, Greece), defensive Sectors continue to lag. We highlight buys in Technology, Services, Consumer Discretionary, Industrials, Materials/Energy, and Financials.
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