Daily move of XLU constituents (Koyfin) and $XLU hourly chart (Tradingview).
$TLT shares outstanding, the ‘Shaman’ and the hourly chart (Fed announcement marked with dotted line). To butcher Obi-Wan Kenobi, the 🐿️ felt a great disturbance in the Force St. Barts, as if millions of voices suddenly cried out in terror and were suddenly silenced.
Of course, we have a Presidential election in November to bear in mind.The White House may look ‘too close to call’, but a (risk negative) sweep by either party now appears much less likely than earlier this summer (per Polymarket odds). While odds favor gridlock, politics should not force investors onto the sidelines.
BofA’s most recent Fund Manager Survey highlights the recent acceleration in this trend.
After the recent acceleration, defensives (utilities, staples and healthcare) have outperformed cyclicals (mining, materials, energy and industrials) by almost 8% year to date. Add a further 10% to that outperformance if you want to look at the utilities (+28% YTD) in isolation! Equal-weighted baskets via Koyfin Model Portfolios.
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Pod: Contemplating the Defensive Puzzle
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Blind Squirrel Macro - The Pod
Macro for Civilians. Sharing successes and failures in the 30-year hunt for acorns in the markets. Finance observations are hit and miss.
Macro for Civilians. Sharing successes and failures in the 30-year hunt for acorns in the markets. Finance observations are hit and miss.
Pod: Contemplating the Defensive Puzzle