Equity markets (US in particular) recovered intraday yesterday from a notable initial selloff on news out of Washington (Trump comments) that the war is very near over… Of course there is much pushback on that notion from the punditry, and today’s headlines either suggest there’s much more to come, or that this is the final salvo/show-of-strength before talks begin.
The market, as I type, is discounting the latter.
The stuff (some of which we own) that has taken the biggest hit so far is seeing the largest rebound today (thus, our core allocation is notably outperforming)…
Whether or not this indeed signals the bottom (not at all assured at this point), it does support our view/strategy thus far… I.e., we remain, for the most part, non-reactive, as our fundamental thesis, at this juncture, remains intact.
P.s. I'll be on vacation beginning this Friday, back in the office Monday 3/23... Although I'll have a connection, so I suspect you'll be hearing from me herein more than once while I'm out.
No comments:
Post a Comment