Stocks closed out the week in a full-throated test of uptrends after a week of historic volatility in interest rate markets. We discuss in detail the scale, nature, and implications of the move in interest rates, as well as some of the knock-on effects for equity markets. The rotation out of momentum and in to value has continued, with some of the most impressive gainers of recent years under harsh pressure in recent weeks. That’s going to cause a shake-up in terms of what stocks are included in momentum indices which are currently underperforming. We also take a deep dive into renewables, discussing some of the major stocks in the sector and their recent declines.
We also recap earnings results, discuss economic data here and abroad, make the case that the recent bond market move is a test for the FOMC, and more in this week’s Bespoke Report.
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