Goldilocks it is! Short term interest rates versus tech stocks. December 2024 SOFR futures (expressed as yield (RHS), blue) versus Nasdaq 100 Futures (LHS, red).
Japanese Yen Futures (monthly, continuous contract, upper panel). Commitment of Trader data in lower panel. Largest short position held by large and small speculators since the summer of 2007 (with notable year to date expansion).
For the past 2 years, bearish “soft” economic data (sentiment surveys and consumer confidence indicators) has failed to be properly confirmed in the growth and employment “hard” data. However, if you squint your eyes at the table above, the traffic lights certainly appear to be turning much more amber.
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Pod: Losing My Religion
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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: Losing My Religion