All four major central banks (Fed, ECB, BOJ, BOE) are raising rates, pushing Treasury yields higher and raising discount rates on equities, setting the stage for a correction in fully-valued Nasdaq/S&P. UK gilt yields could spike further if a left-leaning chancellor like Ed Milliband is appointed.
explicit
explicit
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Bloomberg MLIV
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Ven Ram 5.0
Financial Media
Ven Ram 5.0
6/23/2026 9:48:26 AM
ndx
The Nasdaq and S&P are more than fully valued, so the stage is set for a correction.
| 5/25/2026 9:57:20 AM | short term cautious up | 6 days later | +1.71% | +0.85% |
| 4/24/2026 9:53:00 AM | medium term up | 21 days later | +6.18% | +6.18% |
| 4/16/2026 9:41:04 AM | short term up | 5 days later | +0.99% | +0.99% |
| 4/2/2026 10:09:57 AM | short term down | 5 days later | +3.57% | -3.57% |
| 12/23/2025 7:24:06 AM | short term up | 5 days later | -0.51% | -0.51% |
| 12/22/2025 2:42:18 PM | short term cautious down | 6 days later | -0.24% | +0.12% |
rut
Ram's broad equity correction thesis applies to the Russell 2000 as well, given rising discount rates and fully-valued markets.
yields
If the Fed keeps raising rates and the 10-year Treasury yield keeps going higher...
| 6/12/2026 10:03:43 AM | short term up | 7 days later | -0.40% | -0.40% |
| 5/25/2026 9:57:20 AM | short term up | 6 days later | -0.40% | -0.40% |
| 5/21/2026 10:34:29 AM | short term up | 5 days later | -1.69% | -1.69% |
| 4/24/2026 9:53:00 AM | short term up | 7 days later | +2.54% | +2.54% |
| 4/2/2026 10:09:57 AM | short term sharp up | 5 days later | -0.51% | -0.77% |
| 2/27/2026 5:59:57 AM | short term cautious down | 6 days later | +2.10% | -1.05% |
| 12/23/2025 7:24:06 AM | medium term up | 20 days later | +0.85% | +0.85% |
| 12/22/2025 2:42:18 PM | medium term up | 20 days later | +0.43% | +0.43% |
