What began as churn and chop and drifting higher, turned to something that felt much more like whiplash. Although closing higher on the day, US equities were jolted lower midday as crypto markets faltered in an unsuccessful attempt to hold equities under with them. The tug-of-war was first from the side of US midterm elections anticipation, hopeful equity markets, USD relief, US Treasury yield declines/stabilization, commodity/precious metal rally (ex-crude), China re-open optimism- all contributing to a continued market rally of the past few days.
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