It’s been a muddy July, not only weather-wise, but also in markets. The signs of an equity rotation, the turning tide in USDJPY, the metals volatility & softer rates probably align. Maybe the stars are finally gearing up for a risk-friendly 4-6 weeks upcoming?
![Portfolio Watch: Here comes the metals meltdown..](https://stenoresearch.com/wp-content/uploads/2023/05/Pasted-107-1080x675.png)