DBD Strategy Daily - CREDIT SPREADS RISING WITH THE S&P 500
All sectors rose yesterday in the US. Asian indices have bounced from last-chance supports this week. Is this the indication that all indices are now going to move up together in a beautiful spring rally? We can perfectly see that indices have managed to avoid all sell signals for the time being. Yet, we can also see that there are important sentiment divergences at play. We bring to your attention two problems today. One is the evolution of credit spreads in the US. They are widening again.The second is the overstretched performance of Discretionary vs. Staples, a phenomenon that is reaching the same proportion as in 2000.
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