The View from 5th Avenue

The View from 5th Avenue – 25 September 2023

Markets followed the New York weather today with a dreary and dull performance. S&P 500 volumes were down 15% compared to the 20d average and performance was choppy at best before eventually closing higher on the day. Headwinds continue to develop for US equites as the S&P and Nasdaq closed below their 100-day moving average for the fourth day in a row. US treasuries have become more of a concern for equities lately, especially with longer term yields continuing to climb. The US10Y and US30Y ar…

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