We have often talked about the big trade for 2024…that would be the massive rotation OUT Of Technology / Nasdaq and INTO Commodities…SURE…..that was meant to be when inflation came down, things broke down, Fed needed to cut rates to boost growth…
NONE is needed now..as CPI/inflation is HIGHER…Fed cuts are priced to just 1…FED IS NOT GOING TO CUT…
So what is going on? We look at physical markets to see if flows are picking up or this is a distressed signal..