LC Investment Playbook Monthly Update August 2023

Spot Light

• 10Y Yield Back Above 4% and at YTD High

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Market Updates

• Balanced to Hawkish Tone at Jackson Hole
• Investors are Poised for the Fall in Yields
• Keep Duration Below 10 Year
• Valuations expensive across the board
• US SLO Survey Warns of Potential Credit Crunch
• Signs of Slowing Consumer Spending
• Divergences Between Stocks and Real Yields
• R.I.P. T.I.N.A.
• US Equities: Forewarned Is Forearmed
• Expensive Multiples Return Lower Profits

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‍Recent Trade Ideas

• Our team's recent trade ideas on various Live positions.

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