some large caps already under for the quarter causing drag

otherwise magnificent 7 seem alright and correlates well behaved

dollar still pumping with yields again indirectly stimulating globally

asia with yen/yuan, europe, etc. and increasing domestic buying power

good because energy, gasoline are dropping with vix, yields paused

well crude flipped things over. reworked the charts and now though recovered less upside

seems like small blips cannot overturn the overall

good mkt, mag7 full on

mag 7 dip, bargain calls

would sub lulu for lux component aapl, lagging

ADBE
AMZN
ANET
AVGO
AXP
BRK/A
CMG
CRM
DAX
ETN
FAST
FDX
FSLR
FTNT
GOOGL
HPQ
INTU
IWM
IYT
KLAC
LIN
LLY
LRCX
LULU
MA
MAR
MDLZ
META
MRVL
MSCI
MSI
NFLX
NVDA
NXPI
ON
ORLY
PLTR
QQQ
SNY
SPY
SYK
TSLA
TSM
TTWO
V
VRTX
WMT

retail, travel, semis, discretionary, credit, biotech, infotech

welp time for bonds

the extrema 2y and 30y both slightly breached otherwise 5s/10s at support

renewed interest in bonds would increase treasury balance while decreasing money supply

https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm



on an overshoot, the fed could just buy bonds to temper supply appropriately

hence a fed put but on bonds this time in the view of inflationary pressures

at some point excess capital can be absorbed instead of feeding higher prices

dropping inflationary assets like indexes, labor and real estate is one method for this redirection

the later equilibrium of finding a yield that spurs healthy consumer loan generation TBD

tbh if china is supporting etfs and japan is the largest holder of treasuries, then asia would be the place to spur stimulus hopes

both related currencies should also be supportive. and perhaps china might also turn to treasuries again to continue the flow

indirect boon to china related import-export especially business with neighbors in semi industry without strict gov ownership