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“I believe in the idea of the rainbow.  And I’ve spent my entire life trying to get over it.” – Judy Garland

Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.  

US stocks are down and bond yields up ahead of the open after President Trump suggested on Truth Social that the US will resume bombings of Iran.  Leading up to Trump’s comments, futures were already pointed lower, however, led by Tech.

It’s important to note that we’re seeing rotation within the market rather than out of the market.  Yes, the broad indices are down because of Tech’s large weighting, but we’ve seen nice gains for sectors like Health Care, Real Estate, Consumer Staples, and Financials as Tech has been selling off.

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