The last few days have been a battle, which has kept both bulls and bears on the edge of their seats. After Mr. Powell failed to push back against the recent re-pricing of Fed easing expectations, equity price action remained brave yesterday in the face of rising yields. But today showed that any confidence was tentative. The expectation was for a move lower by both yields and oil to be the answer to equities’ woes. Those moves came into fruition, but they were undermined by disappointment arou…
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