The 50-day SMA on the SPX is about to cross above its 200-day equivalent, an event known as a Golden Cross. Since 2000, the equity index experienced a positive gain in every prior instance over the following 90 trading days, with an average gain of ~... Read more

The rise in dollar liquidity has helped fuel the recent rally in risk assets. China is one of the largest contributors to Global Liquidity and – as we noted in our Markets Year Ahead report – we’ve been tracking signs of a reversal in liquidity trend... Read more

The market is signaling Fed policy is too tight. Yields on 2yr US Treasuries have fallen below the Fed funds rate, similar to what we saw back in late 2018 and early 2019 when the Fed paused their last hiking cycle.... Read more