S&P 500 steeply declined, yet the credit markets offered a glimmer of hope to suck in the bulls – and thus far, the premarket bounce is sticking. The fact that buying the dip didn‘t work in the 4,350s area, needs some digesting today – the overnight stampede didn‘t develop. The sectoral view though doesn‘t allow to declare the bottom to be in just yet. The technical bounce would be probably led by value, with tech lagging behind regardless of the anticipated daily stabilization / retreat in yields. Q2 2021 hedge fund letters, conferences and more Neither the VIX has calmed down considerably ye…

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