From the Desk of Ian Culley @Ianculley
More pieces of the puzzle are falling into place for the bulls.
We’ve been pounding the table about the dollar and rates for months, and now they’re starting to take shape.
On Wednesday, the US Dollar Index $DXY broke to fresh lows, violating a multi-month trend line.
And interest rates… well, they haven’t moved much. They continue to hold their range after peaking in June.
As expected, stocks surged yesterday in response to a weaker dollar and stable bond market.
But stocks aren’t the only risk assets on the rise. Investors are moving out on the risk curve and bidding up high-yield bonds, too.