The morning read
Equity indexes remain calm with the S&P near recent highs, but the advance is narrow, only about a third of stocks are above their 50-day average, with Energy and Technology leading and most other sectors lagging. Gold and Bitcoin are both trending higher over the past couple months on a weaker dollar, while the 10-year Treasury yield has climbed to about 4.94% amid steady inflation readings, keeping pressure on bond prices. Overall the backdrop is a mix of calm equity volatility (VIX near 15), rising yields, and continued strength in gold and crypto.
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