Week of December 18, 2023
The sharp rise in the Standard & Poor’s 500 stock index since the latter part of October has coincided in lock-step fashion with the equally sharp fall in the yield on the US 10 year Treasury Bond. Inflationary pressures in the US have abated of late and this spurred the fall in longer term interest rates. In the near term one would expect common stock prices to take a pause after the sharp advance. Our Signals remain unchanged.
Bob Bilkie, CFA.