Sell in May and go away? By all means, please do.

This is the Citi macro risk index, which has only seen risk aversion at these levels for about 31 days since 1997:

Does this mean we sell and bail?

Quite the opposite, in my view. I’ve laid out the case for a longer term US equities bull run.

So by all means sell and go – I’ll be waiting with cash, ready for when the summer sale on US equities comes along.