Commentary - A Short-Term Bottom?
Equities have sold off hard since their intraday high (4160 on the SP) from September 13 to today's low (3660), or 12% in 9 trading days. The US 30 year has also sold off over 5% in roughly the same time. Our models believe this is a little too much, too fast in equities and we have covered our shorts and are now long 41%. Interest Rates have reached a level where they may be a better risk / reward investment than equities despite this large equity sell-off. Howe