In today’s briefing:
- Further Declines in DXY, Sovereign Yields May Provide More Fuel for a Rally in Global Equities
Further Declines in DXY, Sovereign Yields May Provide More Fuel for a Rally in Global Equities
- In our two previous Int’l Compass reports (Aug. 18 & 24) we discussed that we were buyers on the pullback to the major $93 support level on MSCI ACWI (ACWI-US).
- $93 on ACWI is 1+ year base support and a level that coincides with the 10-month uptrend. We remain bullish as long as the ACWI-US is above $93.
- $93 on ACWI-US is likely the low for this pullback as long as the 10-year Treasury yield and DXY can stay below respective resistance levels (4.3%-4.35% and $103.70-$105.70).
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