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bucolic_frolic

(51,491 posts)
2. Tech bias and drift one-way, flight to quality, valuations suddenly matter
Mon Oct 9, 2023, 05:47 PM
Oct 2023

and anything incompatible with recession is trending lower by the weeks. That's not to say value stocks are recovering, quite the contrary. It's to say growth is beating the pants off value as only tech heads higher. Also, the bond recovery never materialized, Japan and Asia collapsed, the peace trade is in ER, the overvalued dollar is still heading higher at this point. I personally think this is just the up-cycle of the recent downturn and it will play out into November unless jolted by Middle East news or Speakership breakdowns which are imminent. No matter who they install, the GOP has Congress frozen. There are Tubervilles on a whole range of issues. Trump and MAGA have frozen the government, and all they have to replace it is stagnation, anger, incompetence, and themselves.

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