Target, Energy, Debt Ceiling, and Doximity (Podcast)
Bloomberg Intelligence
00:00
The NASDAQ's R Squared Is Below Our Threshold for Macro Regime
It did feel like a lot of last year's losers the ones that got beaten up the most did see a reallocation towards them in January. But it has to be more than that when you look at the price action I think what started off as a 2022 losers reallocating into 2023 winners morphed into a bit of a bond-neal trade. The NASDAQ from January up until about 10 days ago our R squared was below our threshold for macro regime so that was speak to the fact that in January NASDAQ was driving off flow and in February and March it was trading off the generative AI hype.
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