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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we start out tonight by looking at the performance of momentum relative to value as well as how earnings estimates have changed (page 1). We then pivot over to a look at the technicals of high yield and investment-grade bond ETFs. We zero in on the record streak below the 50-DMA for investment grade and what previous streaks have meant for performance (pages 2 and 3).  We then quantify the Beige Book findings (page 4), update job openings data (pages 5 and 6), before closing out with an update of manufacturing PMIs (page 7).

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