Research & Market Commentary
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The S&P 500 is now within a few handles of its ATH of 3393.52. Yesterday it traded up to 3387.89, and closed @ 3380.35. Will the market push SPX to ATHs today?
KRE - the regional bank ETF - might be breaking out here. Yields have been back on the rise, which is great for banks (particularly regional banks)..
Global, negative-yielding debt is back on the rise. It currently sits at roughly $16.2 trillion - an incredible number. What's interesting is that this number has doubled from the March-bottom in equities..
Sticking with bonds after Friday's post of the MOVE Index, it's truly incredible to see how low yields have remained here in the US - especially on the 30-yr. It's not shocking, either, given what has happened in 2020 from a growth perspective..
The MOVE Index, which is a yield curve weighted index of the normalized implied volatility on 1-month Treasury options, is always important to observe. Beginning when global equity markets starting to drop in late-Feb..