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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, we take a look back at the last time markets saw similar impressive reversals that we saw today. We move on to the yield curve which has steepened, perhaps indicating the treasuries market sees fewer rate hikes. Next, we cover the possibility of capitulation given the VIX, credit markets, and cross-asset volatility. Then we cover the weaker reading out of the Conference Board’s consumer confidence data. We finish by updating our Five Fed tracking model with the addition of the Richmond Fed’s very weak reading earlier this week.
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