Going to keep my post short. Credit spreads. That's it. Investment grade credit spreads are the tightest since April 2022 and they made a leap tighter Friday. “High yield” credit spreads are also in the vicinity of where they were last April. Those are big moves from where they were in June.
S&P closed above the 50 week which has meant a sizeable pump every time since 1990 save one in early '02. 50 week will be somewhere around 401-401.25 next week so that's a key level for me. We can dip below but Friday close is important.
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