$SPDR S&P 500 ETF Trust(SPY)$ It really isn't a good sign for SPY when absolute trash like DJT $Trump Media & Technology(DJT)$ shares is in the midst of a short squeeze. It will be a revisit of 1929 by early 2025, but this is not to say we are by any means safe for the remainder of this calendar year. History is accelerating at warp speed and with a very uncertain election to boot. Another source of major concern is the big selloff in TLT $iShares 20+ Year Treasury Bond ETF(TLT)$ after the 1/2 point rate cut. This was not in the Jerome Powell game plan. By the way, liquidity in HYG $iShares iBoxx $ High Yield Corporate Bond ETF(HYG)$ , the largest junk bond ETF in the world, and with very narrow spreads over AAA quality bonds, is a virtual unknown since the underlying junk paper has changed hands so infrequently in recent years. Wall Street believes HYG is a buy and hold. Wall Street is wrong, but it is yet so hard to rationally explain how HYG has been reasonably price stable while long Treasuries have been devastated.
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