• Comments for January 10, 2018

     
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    Yesterday's weakness started at 14:00 when the FOMC minutes were published. Nothing new there though, but the 10Y Treasuries that had broken early in the day below support continued to be sold.





    Fixed income, such as VNQ continued to feel the pressure.



    Among equities, the small caps still look the post fragile. Let's not forget that to profit from tax cuts, you'd need to make profits in the first place and many of the small caps have no profit.







    Conclusions:

    Short the small caps.