It’s a Mad Mad Mad Inversion
Last Week: The last six months have certainly been “interesting”. A dramatic rally in January and February recovered about most of the horrific losses of October- December, followed by a brief nasty sell-off to kick off March which quickly reversed into a Mad March bounce which lasted until Friday’s swoon, which left the S&P 500 down 0.8% for the week. Whereas the market was responding to policy issues (monetary and trade) [...]