MM felt US stocks delivered another strong performance overnight with the Dow bouncing almost 500-points from its early drop following the calming words from Fed members around rate hikes late this month i.e. a 0.75% move now looks more likely than 1%. However, the main market backbone was delivered by the tech stocks as they managed to close in positive territory after extreme hawkish fears subsided following these comments.
- The tech stocks have started to outperform suggesting we may have reached peak inflation.
MM is mildly bullish US equities over the coming weeks
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