Stocks Sell Off, Bonds Rally

Stocks sold off sharply Monday while Treasuries rallied.  A number of financial outlets are blaming it on renewed Covid concerns.  I don’t think so.  Bryce Coward of Knowledge Leaders Capital has it right:

Inflation Is Starting to Weigh on Consumer Confidence and Spending

In a nutshell, consumers are spending more dollars but receiving less goods and services for them, and are beginning to put up some resistance.  Although today markets have reversed much of the move, I expect these concerns to continue to have influence over the coming weeks.