With Liquidity Deteriorating and Breadth Weakening, Evidence Argues For Caution

Key Takeaway: The weight of the evidence continues to deteriorate. We’ve rotated from a “how do you make money” environment to a “how do you not lose money” environment. Liquidity: When the path of least resistance for bond yields is higher, the path of least resistance for stock prices is usually lower. Economic Fundamentals: The […]