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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, on a quiet day in macro data, we make note of the broken uptrends given the recent pause in stocks and high yield credit. We then take a look at the lack of movement in the VIX and breadth in Europe. Turning to macro data, we analyze the Bank of International Settlements (BIS) quarterly credit data which showed significant slowing. We finish with a look at today’s New Home Sales report which beat estimates giving a bit more of an optimistic tone to housing.
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