The stage is set for the big event tomorrow. Last week’s ADP versus NFP has been largely shrugged off as investors are planning for the potential tailwind of declining inflation. After Treasury yields spiked last Thursday, the 2-yr is back down to 4.88% and the 10-yr 3.98%, and equity indexes are not far from ytd highs. For a third day in a row, the Russell 2000 outperformed both the S&P 500 and Nasdaq, and finally closed above 1900. It has not done that since March 3rd and sets up for a test o…
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