10-Yr Treasury Yield Breaking Out; Downgrading U.S. Consumer Staples and Utilities To Underweight
The 10-year Treasury yield broke above the key 1.38% resistance level last week, a bullish signal for the broad equity market and also a bullish...
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US Banks – Borrow Short, Lend Long
While credit costs will remain a key focus for US banks over the coming quarters, we must not lose sight of the steepening yield curve and what it...
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US Financials: Energy Exposures Mean Boil, Boil, Toil and Trouble
After yesterday's halted trading, US banks could be due a nice bounce today as a risk-on bounce takes shape -if it does at all, or fades.US bank...
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U.S. Equity Strategy: Waiting on Small-Caps
This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same...
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U.S. Equity Strategy: Is Fourth Time a Charm?
Global equities (ACWI) and the equal-weighted S&P 500 are attempting to break out for the fourth time this year from what has seemed like a...
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