bullish
Bear Market Rally or Turning Point (Again)?
SUMMARY
- Do you remember July? Here we are again: left to assess whether we are looking at a bear market rally or a sustainable turning point for the stock market.
- Last week’s softer than expected inflation print spurred a massive rally across asset classes: the 60-40 portfolio posted one of its strongest 2-day performances ever, precious metals zoomed higher while the US Dollar took a beating.
- The magnitude of the market reaction was exacerbated by technical reasons we will discuss, but to assess medium-term implications we need to break down the CPI report and take a broader look at the global macro puzzle.
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