Daily Note | May 8, 2024 | Sold JHI. Holding MUI For Now.

Stocks are just off the flatline to the downside with the Nasdaq down the most at half a percent. Small caps are up. Interest rates are modestly lower with the 10-yr at 4.47%. We have a 10-yr auction today along with some Fedspeak which could drive some moves in rates and/or the markets.

JP Morgan released a new note:

While Chair Powell expressed patient …