Morning Note - April 29, 2021

Futures are up nicely after better than expected big tech earnings. Coincidentally, or better yet, paradoxically, the 10-yr yield is up significantly to 1.66%. Previously, when the 10-yr was up, the tech/growth trade has been down.

AAPL +3% pre-mkt; FB +7% pre-mkt. Biden laid out his infra plan in his joint address to Congress last night. Earnings contin…