US Sectors vs. SPY

The daily ‘vs. SPY’ situation has seen Financials bounce back with long-term yields, which remain in downward consolidation (10yr yield chart below). But if long-term yields remain in consolidation, I’d be somewhat suspect of the Financials. Energy on the other hand is really making a point in its relation to the broad market. XLV/SPY looks like a normal consolidation so far (I took a shot with the Biotech sector and IBB when it was down this morning). Healthcare generally takes an opposite stance on yields to the Financials. Industrials and Materials (not shown) have bounced hard and correlate well with higher yields. Finally, the Consumer ETFs, as investment vehicles, are of little interest.

us stock sectors

Here is the 10yr yield, still consolidating the Trump ‘reflation’ hype from late last year.


For reference, here again is the chart that correlates sectors and yields.

yields vs. stock sectors

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