From the Desk of Ian Culley @IanCulley
Tech stocks don’t care about the manufactured debt limit crisis. Nor are they bothered by the increasing probability of a rate hike next month.
Growth stocks seem concerned with only one thing – printing fresh highs.
The Tech sector ETF $XLK posted new 52-week highs yesterday. And the Communications ETF $XLC rallied within reach after taking out its Aug. ‘22 pivot highs.
So where does that leave bonds and other long-duration assets?
If these base breakouts across growth sectors hold, I imagine bonds have some serious catching up to do…