News about bear market territory

Rolling 60-day correlation between S&P 500 and Bloomberg Commodity Spot Index has slipped further into negative territory pic.twitter.com/CQJghTWbD1

Foreign purchases of U.S. equities have been incredibly volatile over past several years; negative in February (latest data available) but dip wasn’t as severe as in prior months pic.twitter.com/9KZ0ZNAPFQ

Per below, the whole US yield curve shifted up in reaction to the data (see prior post), including the 2-year which traded above 5% as markets pushed to December the expectation of the first rate cut by the #FederalReserve. (Amazing to think that, just four months ago, #markets… pic.twitter.com/gmZDG1xxGU

Down less than half a percent today for the S&P 500. Given where it opened, this was a nice change from what we were seeing a week ago. Back then, the selling would get heavy as the day wore on.