Divergences suggest at least tactical correction risk
Saxo Market Call
Summary: Today we run through some stark divergences as the US equity market posts new highs, noting weak breadth and other indicators that in the past have suggested higher risk of an episode of consolidation. We also look at interesting signs in the T-bill auctions that the market remains wary of the debt ceiling situation that hasn't yet gone away. Also, a look at crude oil, gold and rising food prices, the macro calendar for the week ahead and more. Today's pod features Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.
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