That's right, according to bespoke (this is as of last week, Feb 18th). For all the talk of the "great rotation" from bonds/cash into equities and the melt-up reaction to qe3+, the market hasn't even kept up with the last two years. What does this mean, if anything?
The relative positions continue to hold this week in the resulting sell-off, with investor sentiment reflecting an abrupt reversal from highs (even before the indices fell):
*Credit for both picture to Bespoke Investment Group
The previous two years' early out performance were matched only by the subsequent corrects - will history repeat itself?
No comments:
Post a Comment