US stocks recoverd some of the earlier weeks losses overnight with the S&P500 finally closing up +0.4%, nothing really new to report as it takes a breather following major volatility during Q1 of 2022. Overall we felt the performance from equities was solid considering the continued strength in bond yields and we believe fund managers having already ramped up their cash holdings to a 2-year high is going to be supportive of the market i.e. who is left to sell due the current surge in bond yields which is slowly becoming old news.
MM remains mildly bullish US equities through April
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