Equity markets remained quiet in August with the Fed engineered intervention butterfly spread of long equities, short volatility, and short fixed income continuing to work. Despite the bearish calls on equities from Bank of America, Goldman Sachs, and Merrill stock indices keeping making all time highs.
National election data has had little impact though the bid under the market continues to point to the belief that Hillary will win. But in trading and politics one should never forget the "now I've seen everything" events which appear from time to time. A loony vote could put U.S. international companies and their shares in the dinger as attempts to implement trade and immigration promises are endeavored.
CoverRisk's Q8 shows GOOG and MSFT as the most overvalued.
