TBF - What Do Central Bankers Know?
In last week's missive, we discussed a critical point concerning the bull run so far.
"Despite the underlying economic and fundamental data, the markets have surged back to extremely overbought, extended, and deviated levels.
You will note that with the exception of bond prices, every market and sector is more than 5% above its 50-day moving average and year-to-date performance is pushing more historic extremes both in price and in extreme overbought conditions.
On virtually every measure, markets are suggesting the fuel for an additional leg higher in assets prices is extremely limited."
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