T2D Pulse at 56.8, Tech Sentiment Remains Neutral
“Neutral” sentiment feels about right, although my sense is June Q earnings reports will not be upbeat. Not after these Tech layoffs (below), not with a 4%+ 10-YR yield, not with prices moving higher (real world price increases are significantly higher than the artificially low CPI figure). Watch what companies do, not what they say. Valuations are high, growth for most companies is slowing, credit risk is increasing and yields do not appropriately reflect that risk.
