As mentioned in the update couple of weeks ago
One other development is the Model is turned bearish on DXY (USD).
It's playing out. Once DXY breaches 100, the downside momentum is likely to accelerate. This should fuel the risk-on rally and the commodities.
Also, it's not just about the bullish long calls, Models bearish bond call has played out well too.
When this update was published, there was a banking crisis unfolding.
One big change models picked up is its exit from BOND position TLT.
The mainstream narrative is that FED is done with the rate hikes, but then why are markets not bidding TLT?
Mainstream narrative and many gurus were bullish bonds, citing FED cannot possibly HIKE anymore without collapsing everything.
TLT is down 5% since.
Pleased with the call as these are big numbers in the bond world but also huge considering TLT already was down 40% from the highs and it was supposedly "peak interest rates".
W3Q has published a How-To guide for those interested in learning how to best use the model insights. Check it out.
Coming to the model positions. There have been 1 exit and 1 new entry.
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