The S&P 500 has paired its every day decline to only 8 factors or 0.2% after falling greater than 83 factors on the lows.
I’ve repeatedly highlighted how quarter-end flows are skewing the alerts. Yields fell sharply yesterday and in the present day with 10-years now under 3%. That is optimistic for shares and it is confirmed by falling expectations of Fed hikes within the Fed funds market and 5-year breakevens (5 yr ahead 5 years are right down to 2.1%).
Lastly, I believe the worth motion within the oil market helps with crude down $3 in the present day and gasoline cracks coming down sharply.
