Inflation Expectations, 10-Year Treasury Yield and the Equal Weight SP500
September 24 2023 Update
The market had a bad week and when looking at the equal-weight SP500 it is easy to see the acceleration to the downside:
We are still within the “range-bound” box, so let’s see if the market will keep bouncing within the same range or break down.
My view is that the market is reflecting the move of the 10-year treasury yield which keeps moving higher, reflecting expectations for higher inflation:
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