Michael A. Gayed, CFAJanuary: everyone was long rate cuts.
Now: hike odds >50%.
That's not a rotation. That's the largest positioning reversal in years — and the unwind isn't finished.
$SPY -3.4%. $QQQ -4.2%. The price tells you where we are in that unwind.
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January: everyone was long rate cuts.
Now: hike odds >50%.
That's not a rotation. That's the largest positioning reversal in years — and the unwind isn't finished.
$SPY -3.4%. $QQQ -4.2%. The price tells you where we are in that unwind.
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