Well obviously, the banks like the pop in yields. This was a confounding relationship for a few weeks and it caused me a minor squall of turmoil, both in my personal management and in my short-term market outlook.
But now, it seems like the relationships may be getting back on track and the pigs love it. That’s a breakout. This plays to the intermediate script we’ve been planning for a rise to the yield “limiters” and then changes. It’s just a day, but every trend starts with a day. I added KBE yesterday rather than mess with individual names at this time.
Industrials like it too.
Materials are hesitant, though usually positively correlated to yields. Well, the actual economic fiscal stimulus is for the rich after all, and maybe the “trickle down” if it ever comes, is too far out on the horizon.
Tech no like…
Semi really no like…
Healthcare says “yes!” in spite of its BioPharma (anti-yields) weighting. Maybe it’s been sold down enough in anticipation?
Finally, gold stocks… err, no like.
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