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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin with a look at S&P 500 performance in the context of the VIX’s recent moves (page 1) as well as a discussion on the Fed’s tightening cycle and its implications for stocks and bonds (pages 1 and 2). We then pivot over to our final update of our Five Fed manufacturing composite (page 3), a recap of today’s Treasury auctions (page 4), and a rundown of the latest positioning data (pages 5 -7).

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