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, ref…