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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, the S&P 500 had a bearish technical pattern today with an outside day reversal, but we show why this may not be that negative of a signal. We also review credit markets and the VIX curve holding firm. Turning to macroeconomic data, we review the PPI report released by the BLS today showing weaker goods inflation and more solid services inflation. We finish tonight with a look at Federal Reserve data on the distribution of wealth in the US. We use this data to show how these different wealth segments allocate their assets.
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