Sigma Signals

Week of June 12, 2023

Interest rates on US Treasury securities across the maturity spectrum are within normal ranges of the last 30 years, suggesting inflationary pressures are abating. The Standard & Poor’s 500 stock index has advanced 20% over its previous low, technically marking a new bull market (and once again highlighting the futility of market timing). In the absence of new and emergent uncertainties, investor sentiment appears mildly constructive. Our Signals remain unchanged.

Bob Bilkie, CFA