US stocks drifted lower overnight as bond yields rallied further dampening enthusiasm for risk assets due to potential rising borrowing costs which took the allure from stocks. Tech was the weakest market pocket following Walmart’s decision to increase spending on workers salaries plus automation adding fuel to the markets concern that inflation is looming on the horizon. However the NASDAQ is still less than 2% below its all-time high, hardly alarm bells territory.
MM remains bullish stocks / risk assets through 2021
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