Another Bessent Bounce! What Will It Take To Make #3 A Bottom?

MarketGauge
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(19min)

Summary

  • Last week, we experienced another volatile “Bessent Bounce.” Perhaps this one has the potential to be the confirmation of a reversal in bearish sentiment big enough to create at least an intermediate-term bottom in U.S. equity markets.
  • As a result, last week’s rally in stocks is a welcome reprieve, but there are a few more market conditions that the bulls would like to see fall into place to create a solid foundation for a durable uptrend to persist.
  • Taking a look at the consider the expectations of a Bessent Bounce, which has not earned the credibility of a Fed Put.
  • It’s most notable that in the days leading up to Monday’s Bessent Bounce #3 (when stocks, bonds, and the dollar were falling sharply), Bitcoin was rallying.

The gold bull on chart background for business concept 3d rendering

niphon/iStock via Getty Images

By Geoff Bysshe

Forget about looking for a “Trump Put.” There’s a much more reliable market ally in the White House.

Last week, we experienced another volatile “Bessent Bounce.” Perhaps this one has the potential to be the

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