Market

[Pascal]

Market relatively directionless today.

I had been expecting some reversal to the mean in interest rates, but even though the 10Y Treasuries are bouncing, this bounce does not attract money. hence, it could be short-lived.

I guess that we are moving toward an end of the year activity where tax loss selling activities might put a cap on future gains. I still think that investors will be afraid to stay invested during the earnings season of January, especially is rates and the US$ stay elevated.

Pascal