September 27, 2021
Good morning,
Up until only a few hours ago, hopes for a happy start to the last week of September were running high. However as the U.S. investor crowd has coffee’d up, hope has faded and the chances of getting out of this month in positive territory are not looking good at the moment. Bond yields are up for the third day in a row. The ongoing rise in yields may reflect both the inflation reality and the Fed’s recent hawkish tilt, but it isn’t doing the broader investment climate any favors.
Following last week’s volatility spike, trend indicators remain mildly bullish – we stay the course on what will likely be a bumpy road ahead for a while longer at least.
Be well,
Mike