Well That Escalated Quickly

Don't Learn From Mick Jagger

First Friday of the Month (still dyor)

After a week,

YTD AGG (USD bond market) = -1.00%
YTD SPY (S&P 500) = -1.87%

The notable thing is that this has occurred despite the January effect, when more inflows occur than at any point in a year. Nevertheless, sellers have outpaced the buyers. Notably, it is very logical that some of the proceeds from the sales o…