A snippet from Bank of America’s Savita Subramanian, head of U.S. equity and quantitative strategy.
- “Our bull market signposts suggest the S&P 500 may not break out just yet”
Only half of the ‘signposts’ BoA look for, such as Fed rate cuts and a steepening yield curve (see pic below), are triggered, whereas around 80% are prior to the market hitting a trough:
- 50% are triggered vs. 80-90% ahead of prior S&P 500 market bottoms
‘Twas a positive day for US equities:
- Happy days are here again. Russell 2000 leads stocks higher.
- Forexlive Americas FX news wrap: USD/JPY nears the highs of the year as risk trades rally
This article was written by Eamonn Sheridan at www.forexlive.com.