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发帖数: 299 | 1 Weaker economic releases didn't cool down the steam of the bull; stocks
bounced quickly after three days sharp declines in the middle of the week.
Equities had been ridiculously strong so far this year, although the U.S.
economic condition is still questionable as the nonfarm continued to growth,
the S&P500 finished with the best first quarter gain since 1998. On the
other hand, the fixed income market took a small hit this quarter as the
Treasury yields rose across the curve, the 10-year is now trading 20 basis
points higher than what it stood early this year as well as the historical
low. The question now becomes whether or not the economic recovery is real
and how long will the low jobless claims least. The monthly employment data
will be the key market mover next week as investors want to know whether it
is time to buy bonds again.
Technical Highlights:
• Stocks outpaced bonds as treasury yield suffered from its
downtrend; Equity finished its best first quarter since 1998.
• The negative divergence between stocks and indices continued to be
concerned as stocks are not performing well enough to support the indices
rally.
• Defensive stocks led the stock market higher as healthcare,
discretionary and utility outperformed all other sectors.
• History performances showed market strength as we are entering
into the "Buy in April, Sell in May" season.
• Treasury weakened on the long end of the curve; Bullish crossover
appeared on the 2-yr as its 50day SMA is now trading above its 200day SMA.
read more at...
http://www.alpbeta.com/p/plus.html
or
http://plus.alpbeta.com/report/201213.pdf |
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