10Y Yields Test 57bp Area
SP500 to continue to outpace Nasdaq?
This is just a quick note here and we wanted to post the US Gov’t 10yr chart. The consolidation band is going on 5 months long now and a break of 57bp could usher in a new QE binge session by central banks as all global yield equilibrium levels continue to move negative, dragging even the heavily indebted U.S. debt pile down with it:
We also want to keep you up on the SP500/NASDAQ futures spread as the SP outperforms and we do feel that the Tesla earnings today will be a large contributing factor for continuing that trend. Inclusion of Tesla into the SP500 would bring some added parity, but let’s just see how earnings go. Here is the present spread contract chart:
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