AUTHOR
Mick Weinstein
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An interesting Q&A in this weekend’s Barron’s with William Hambrecht, whose firm underwrote Google’s unusual dutch auction IPO in 2004.
Utility stocks are showing signs of buyers’ fatique, and now trade at a higher price-to-earnings ratio than the technology sector.
Dispersion remained the theme, with the Dispersion Index still elevated. While it could rise further, it’s something to watch—high dispersion typically coincides with low correlations.
The recent rise in long-term yields and the health of the banking sector will be top of mind for investors while Powell and the committee consider how high and how long the fed funds rate should be.