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Michael A. Gayed highlights that all intermarket signals continue to point toward a risk-on environment for the second consecutive week.
He references indicators such as beta, Treasury, lumber versus gold, and the 200-day moving average, all aligning positively. Gayed observes that despite the market's clear direction, many participants remain cautious and are still hedging based on previous moves.
Gayed previously commented on the first phase of the reverse carry trade emerging as rescue efforts for the Yen started. He also recently hosted private dinners in Boston and New York with Rayliant and China Asset Management Co. teams for RIAs and wealth managers. These activities reflect his ongoing engagement with global market themes and the asset management community.