The premise of the momentum factor draws on an empirical fact: price trends persist… until they don’t. The latter point is the tricky part and so it’s never quite clear when the party will end and a trend reverses. But based on the numbers through yesterday’s close (Feb. 28), it’s fair to stay that the crowd’s appetite for risk endured for another month in February, extending 2024’s upbeat kick-off in January via a set of ETF pairs that serve as risk proxies. Trends have a shelf life, but it’s not yet obvious that the expiration date is today.

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* Congressional leaders reach tentative deal to avoid government shutdown
* Biden administration will investigate Chinese cars as security threat
* Rate cuts will likely start this year, says Boston Fed Bank President Collins
* Dept. of Justice launches antitrust probe into UnitedHealth Group
* Why is bitcoin surging again?
* US economic growth revised down slightly to still-solid 3.2% rise in Q4:

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