RenMac’s Jeff deGraaf: There Is Finally an Alternative to Stocks | #657

Jeff deGraaf, chairman and head of technical research at Renaissance Macro Research, argues that real yields above 2% mean investors finally have an alternative to stocks, opening with a line dating to 1873. The episode also covers bubble trades, bonds and volatility in allocation, credit spreads and market pressure, semiconductors as a bubble signal, and tape reading and regime analysis. He closes with his view that private credit is deteriorating and what credit markets are signaling.

1. deGraaf says real yields above 2% give investors an alternative to stocks for the first time in years.
2. He argues November has become the best month of the year.
3. He describes private credit as deteriorating and discusses what credit markets are signaling.
4. He covers semis as a bubble signal and how to trade around equity bubbles.