Weekly

This past week started off with some ambiguity as a hot inflation print would have likely re-applied downward pressure to Tech shares and Growth shares more generally.  But, as reality transpired, the table is now clearly set for the Bull.  Rates have moved lower, and the Fed has the data points it needs to refrain from tightening any further at present. 

Cross currents have popped back up almost immediately to keep inflation expectations on the table and to put investors in the mood to position for recession, or at least something different than the Mag7.  As a result we’ve seen some rotation into the Utes and into some of the more Value and pro-cyclical oriented sectors of the equity market