A Day for Acronyms
IGIW Let’s start with IGIW. I’m not sure it is an official one, but we can go with I Got It Wrong. I came into this week stating that it would be far more difficult for stocks to bounce 5% than drop 10%. I was looking for yields to continue their upward trajectory. 10-year yields finished the week lower by 11 bps and the Nasdaq was up by almost 3%. I continue to look at a wide variety of sentiment indicators, positioning indicators, etc. and see extremely aggressive positioning, but so far it has worked for those positioned that way. ... A Day for Acronyms