Equity Broadening, Bull-Flattening and a One-Trick Pony (E281)

Portfolio Manager Eric Dhall and Allocation Strategist Ryan Kimmel survey improved stock breadth even as tech led the S&P 500 lower (1:06) the week ended Oct. 16. Bonds (5:11) enjoyed bull-flattening as short squeezes took hold despite hotter-than-expected inflation. While Bloomberg Commodities Index gained, Eric calls the move a “one-trick pony” in the form of headline-juiced energy prices. Macro news (11:15) was dominated by September core CPI and PPI reports which registered broad, hotter-than-expected inflation, outside factors attributable to the energy complex; retail sales came in more mixed.