Lead-Lag Live

Market Mayhem: Is the Worst Behind Us?

6 snips
May 20, 2025
Michael A. Gayed, Publisher of The Lead-Lag Report, shares his keen market insights and macro analysis that often precede major trends. He delves into the fragility of the current market recovery, highlighting the alarming disconnect between credit spreads and small caps. Gayed identifies potential risks in diminishing gold as a safe haven asset and argues that market manipulation is unprecedented, influenced by political rhetoric. His candid thoughts on market signals and investment strategies provide a compelling look at today’s financial dynamics.
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INSIGHT

Fragile Market Recovery Signals

  • The market recovery may be fragile due to contradicting signals like credit spreads and small cap health.
  • Treasury yields staying high despite tariff relief questions if worse market lows are yet to come.
INSIGHT

Yen Strength and Market Volatility

  • Japan's yen strengthening played a major role in market volatility, beyond tariff impact.
  • Equities often weaken when yen strengthens, hinting at leverage and foreign factors at play.
ADVICE

Small Caps And Political Narrative

  • Watch for small caps to surge if the market low is in; they act as leading indicators.
  • Pay attention to political narrative shifts, especially Trump's pivot from tariffs to tax cuts or deregulation.
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