…So much for sell in May and go away.
The S&P 500 increased 7% in June, after dropping nearly the same amount in May. A spectacular turnaround driven by yet more easy money signals from the Fed. It sure is nice, if a bit excessive given the US is near full employment and inflation looks fine. As it stands now, the S&P 500 is up 18.5% through June. (Figure 1).
What Changed in June?
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