Overnight US stocks extended their strong rally from their October low, it’s now approaching 10% for the broad market as the tech names illustrated overnight that a stock / sector that can hold firm in the face of a deteriorating macro backdrop (rising bond yields) is likely to pop when the headwind is removed – the NASDAQ has now bounced 13.6% from its October low and it’s currently accelerating to the upside, a trend that MM feels is too early to fade.
MM remains bullish US equities into 2022
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