Credit investors are perhaps bearish by nature – always looking for threats. But even CIFC veteran Stan Sokolowski wonders whether investors are being overly pessimistic about the market.
. Looking at charts for possible signs of price exhaustion or biases for any indication on movements can be helpful. Currently, multiple factors have aligned to support a negative lean for oil prices.
As one would expect euphoric periods offer poor returns and periods with horrendous sentiment tend to offer more attractive returns. Let’s see where the crowded trades are now.
After an eight-trading day run gaining 5%, gold has finally taken a breather. As the U.S. dollar dropped from $98 to $96.50, gold volatility jumped above 12% and prices enjoyed a nearly $70 rise to re-test gold’s February 20 price high near $1,350.
After an eight-trading day run gaining 5%, gold has finally taken a breather. As the U.S. dollar dropped from $98 to $96.50, gold volatility jumped above 12% and prices enjoyed a nearly $70 rise to re-test gold’s February 20 price high near $1,350.
Many of the current news headlines tie oil’s recent decline to lower expectations on world growth outlooks. WTI Crude Oil has dropped 23% from its $66.60 on April 23rd to a low today of $50.59.
The discretionary sector struggled as did all growth and quality-oriented areas of the market in 2022. That was a classic re-set and a raging opportunity to add exposure.
The Institute for Supply Management’s monthly survey of purchasing managers came in below expectations for August, while the Bureau of Labor Statistics jobs report indicated that nonfarm payrolls expanded by only 142,000 jobs during the month (against expectations of 161,000 jobs).
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