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The 60/40 portfolio is in shambles.

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The 60/40 portfolio is in shambles.

UK pensions & the USDJPY cannot handle the rate hikes.

GMG Research
Oct 17, 2022
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Share this post

The 60/40 portfolio is in shambles.

gmgresearch.substack.com

What to watch:

  • USD, GSG vs SPY, VNQ

  • USD Strength + higher rates = bad for equities

  • If UK pensions continue to explode, USD/Bitcoin/US Large Cap will bid.

  • Bitcoin 10 day realized volatility is lower than the Dow Jones & still outperforming

  • European energy capital needs to find a new habitat.. in the US.

  • The fed funds rate will follow the 2yr.

  • Don’t forget. Real money managers now have a hurdle rate of 4% to beat.

    • They will think twice before throwing money blindly into any risk asset.

S&P 500: Oversold conditions are still there.

S&P 500: 3509

Bitcoin realized vol is now lower than the old head Dow Jones.

We still like Bitcoin.

LNG: This is the elephant in the energy room. Once this pops that might be that top for energy. Liquified natural gas is everything right now.

TLT: One of the largest bond ETFs is down 43%. That is pain.

Behind the scenes, there was an epic dollar short squeeze that sent the Swiss USD swaps to RECORD highs. No one said a word about this. Story here

Return always wants its risk payment. NOT INVESTMENT ADVICE.

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The 60/40 portfolio is in shambles.

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