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Looking for deeper insight on markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin by reviewing the move in yields with regards to gold and utilities. We then take a look at total returns of equities and bonds adjusted for volatility. Next, we show just how rare it has been for the S&P 500 to close at an all time high on the first trading day of the year before reviewing the massive run for FAANG stocks recently.  We finish with some macroeconomic data including jobless claims and global PMIs

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