Momentum in tech and a bid in bonds

• The recent bids in bonds are recession bids from the big players

• FED swaps show more than 100 bps of easing priced in for 2024.

• Last week we said: “Wait until bad news is actually bad for stocks then you take action. yesterday, a senior market advisor at Goldman said the same thing “at some point negative growth news may start to create a cyclical headwin…