Reminds me of the Final Destination movies - the unsuspecting characters live their peaceful lives, while the invisible hairy hand of the market is meticulously preparing every instrument for a kill.
Treasury yields are scheduled for a big bang this fall, but it will not end in 2023. I think yields will continue to rise into Jan and Feb.
SPX will keep falling all that time. We may see markets bounce a little in the spring 2024. The transition from "low yields forever", to TNX above 10%, will cause an unimaginable amount of pain across the globe.
Treasury yields are scheduled for a big bang this fall, but it will not end in 2023. I think yields will continue to rise into Jan and Feb.
SPX will keep falling all that time. We may see markets bounce a little in the spring 2024. The transition from "low yields forever", to TNX above 10%, will cause an unimaginable amount of pain across the globe.