The Kobeissi Letter|Apr 28, 2025 20:39
Correlation across US assets is rising:
1-month correlation between the S&P 500 ETF, SPY, the popular-bond tracking ETF, TLT, and the US Dollar index, DXY, spiked to 0.2 points, the highest in at least 6 years.
This is a sharp reversal from a negative correlation of 0.3
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