US stocks surrendered a further portion of their recent recovery overnight as a pullback in bond yields and oil prices sent the value names lower although losses were fairly broad based as aggressive selling hit the market into the close – similar to our market yesterday. After bouncing strongly through March we wouldn’t be surprised to see US equities consolidate for 1-2 weeks before making another attempt on the upside.
MM remains mildly bullish US equities over the coming month (s)
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