Weekly Economic Indicators, Nov 1
Contrary to the notion that this recent surge in equities is driven by earnings, EPS on the SPX for 2022 has contracted, and EPS on the QQQ for 2021 and 2022 have both contracted.
The IG bond market is pricing in significantly more risks than the equity market is at the moment, and all the indicators seem to be pointing towards full risk on in the equity markets - seems a bit toppy.
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