Market Research

June 2024 – bond traps and taxation

Welcome to this month’s Market Strategy. Markets continue to be led higher by the American powerhouse Nvidia and other mega cap tech while bullish bets on the broader global economy have fallen to decade lows if oil speculators provide any indication of what’s ahead. Meanwhile, asset managers are going all-in on the falling interest rate trade by shorting the U.S. dollar and buying U.S. treasuries. This has pushed the U.S. Dollar Index (DXY) down nearly 2 per cent and 20-year treasuries up over 3 per cent in May.

June 15, 2024

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