Another Divergence Has Developed Between the Stock Market & the Treasury Bond Market
The S&P 500 has already retraced 100% of its losses since the SVB crisis began. The Treasury market has only retraced 1/3 of its "flight to safety" move. Thus, there is a lot of complacency in the stock market right now.
- ECB Chief Christine Lagarde has not backed-off much at all. Does this tell us anything about Chairman Powell?
- The Treasury bond market is much less complacent about the mini-banking crisis than the stock market.
- Willis Reed: The epitome of toughness.