These range from suspect to outright ugly. Somebody had better start buying up Junk Bonds. Meanwhile, Treasuries are getting a bid and inflation is nowhere to be found. Goldilocks however, does not particularly like the Dow, Russell and especially Junk’s failure to stop making rounding patterns.
We had noted that the conclusion of the Greece theatrics was going to be short-term bullish and the market responded by sending its momo oriented things to new highs after that thing calmed down. Now the market is back where it was, prior to the bullish sentiment reset provided by the Greek drama.
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