Greetings,
Equities: Market sentiment has been shifting toward more neutral levels as Fed rate hikes loom. The equity market froth we saw last year has come off.
The AAII bull-bear spread is holding in negative territory.
Here is Goldman’s sentiment indicator.
Credit: US high-yield spreads are near the lowest levels since 2007.
Cryptocurrency: Bitcoin’s correlation to the S&P 500 has risen substantially since the start of the pandemic.
China: Developers’ debt collapse has accelerated, …
… as investors worry about the maturity wall.
United States: The March Fed rate hike is now fully priced in
Food for Thought: US hospitals filling up:
Edited by Daniel Moskovits
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