One of our esteemed colleagues summed up this week’s index performance perfectly with “ I can go away for two days and catch up quickly when I return cause the S&P has only changed by 9 bps”. Here we are once again closing out the week below 4200. Major indexes faded and US treasury rates rose into the weekend on long term inflation worries. Today’s U of Michigan data through a tiny wrench into those planning for rate cuts. 5-10yr expectations rose to 3.2% from the previous 3%. The highest leve…
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