SEPTEMBER 17, 2021
EUROPE OPEN BRIEF:
Our favorite bond yield model suggest yields will be lower until the week of September 27.
The same outlook provided by the TGA-centric bond yield model -- low point of September 27.
This is our translation of the yield moves with intraday highe frequency changes.
Falling yields and equities by early next week -- followed by a recovery with more decline forthcoming going to the month-end.
Corr Coef model shows intermediate trough on September 21/22, followed by equity recovery.
YM - At worst, a retest of the recent highs going into the OpEx, then lower into early next week.
ES - A possible retest of the recent highs going into the OpEx, then lower into early next week.
RTY - Not so much upside for RTY as yields continued higher
Note: We will provide further updates, as we approach OpEx -- but given the liquidity situation, we should still see lower lows NY closes next week.
And yes, we are massively short the equity market.
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