It’s been an interesting week for US equities, and despite another all-time high for the S&P500 on Tuesday and positive breadth improvement, the past three closes deep in the red serve as a stark reminder that change, or in this case rotation, can be painful. In terms of what sparked such the seemingly sudden shift – prevailing market sentiment has turned decidedly dovish in the past few weeks. It’s widely known but sometimes overlooked that the goal of the Fed is to be boring. Yes, they will b…
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