Daily Alert: Chucking it into reverse

  • Market movements overnight have been choppy with the general trend being for a mild reversal of recent price action
  • After an encouraging open thanks to a positive lead from Europe (Euro Stoxx 50 +1.7%), US equity markets are dipping back into the red as we write (S&P500 -0.1%, NASDAQ -0.9%)
  • There was no obvious catalyst for the sudden pull-back in US yields, other than a short-term correction perhaps being overdue given how ridiculously fast yields have risen

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