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Michael Kao: Macro sentiment weakens despite strong earnings from tech leaders

Michael Kao: Macro sentiment weakens despite strong earnings from tech leaders
Tech earnings strong, but macro sentiment weakens

Earnings season has arrived, with several major technology companies releasing positive results. However, macro sentiment in the market has become unstable, according to Michael Kao, chief investment officer at Akadia Capital.

Kao recently noted that the iShares 20+ Year Treasury Bond ETF (TLT) showed signs of a capitulation bottom, after he purchased short-term call options amid perceived overselling. Earlier this month, he highlighted renewed volatility in TLT as the double-bottom pattern broke down and market volatility intensified. The fund’s price action continues to draw close scrutiny from investors.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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