Overnight US stocks had a mixed session with the Dow struggling courtesy of a tough session for JP Morgan (JPM US) while the NASDAQ led on the day courtesy of bond yields slipping lower. Our best guess is bond yields and the $US will have a deeper pullback from current levels which should see last night’s moves continue i.e. the resources and tech stocks rally, with our target for the NASDAQ still 8% higher.
MM remains bullish US equities into 2022
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