Welcome to the real vision daily briefing. It's Friday, April 8th, 2022. I'm Warren

Pies, founder 314 research. Today, I'm joined by Jeremy Schwartz, Global Chief Investment

Officer at Wisdom Tree Asset Management. Jeremy, how are you doing today?

Warren, good to see you from Miami. Good to talk to you.

Yeah. Same here. Well, today, I would categorize today's market action as really

a continuation of a number of trends that we've seen in place really throughout the first quarter

of 2022. So we had rates jumping, dollar strength, especially against the yen,

you know, commodity strength. Within the market, we saw energy sector leading the rest of the

sectors and tech sector, you know, taking up the rear. So really kind of the same trade,

we've seen the markets held at these, these levels, you know, about $4,500 on the S&P 500,

right around the 200 day, 150 day, two key levels that we've pointed out in our research.

I know you're familiar with and that we've also discussed on these daily briefings before.

So that's kind of the way we see it. And Q1 now behind is moving to Q2. Feds fully

in gear with their tightening cycle. What do you see? How do you put some days price action in

the context of the bigger picture where many of these moves are continuations?

Yes, interesting. And for the year-to-date moves, you have the NASDAQ, which I was looking today,

down about 12 percent, the Q's down almost 12 percent on the year. It's the exact opposite for

value. So you've had this major factor rotation. If you look at like a high dividend basket,

it's up 10 percent on these. We have a 2,000 basis point spread. And that's, again, what is

happening today between high dividend value versus the growthy tech. You know, and our theme for

the year has been inflation. And in our macro economist that I've worked with for 20 years,

Professor Zeele has been calling the Fed very behind the curve. We've been saying for some time

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