Oil is up 32% in two months to $90. Thirty-year Treasury bonds are up 45bps to 4.45% in the same period.
The S&P closed below its 50-day moving average for the second consecutive week.
The dollar remains strong, the UAW strikes, and the Freedom Caucus holds the House of Representatives hostage.
The following graphic shows the evolution of the Monitor’s macro factors over the past three weeks.
The green, indicating “risk-on,” dominated at the beginning of September and has since dissipated, indicating a possible shift to a period of “risk-off.”
Here is this week’s Monitor, where the last week’s developments for each macro factor are summarized. More compact than the FT, WSJ, or Barron’s.