The assassination attempt on Donald Trump, combined with ongoing weak US data, resulted in a perfect storm of bull steepening in US Treasuries, a rally in store of wealth assets (gold and bitcoin), and a violent squeeze in cyclical small caps.
A breather for Trump trades
The assassination attempt on Donald Trump, combined with ongoing weak US data, resulted in a perfect storm of bull steepening in US Treasuries, a rally in store of wealth assets (gold and bitcoin), and a violent squeeze in cyclical small caps.