Equity Update

Equity markets typically struggle in the September to early October time frame. And with an overbought market that has some indicators like the equity put/call ratios flashing negative signs, we think some caution is in order. Still, the bond market has rallied well in recent weeks and inflation pressures appear to be moderating. Any pullback in equities is likely to be mild unless the economy flames out.
Strategy Update: After a great 10 weeks, we've lowered our equity exposure in Dynamic strategies that invest with an equity focus.