Morning Note | Aug 17, 2023 | PIMCO UNII Continues to Show Weak Trends with Rich Valuations
Good Morning!
Treasury yields are marching higher as the market opens up following two days of losses. Walmart reported a revenue and earnings beat while also raising its full-year guidance. The report underscores the recent narrative that there is a no-landing outcome baking into the markets.
The FOMC minutes yesterday were somewhat less hawkish than I…
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