Morning Note | August 18, 2023 | Stocks Don't Outperform T-Bills?
Summary
Stocks are down for the fourth day in a row, with the worst week since March.
Interest rates are moving up, reaching cycle highs of around 4.3%. Rumors suggest that Powell may be more hawkish at the upcoming Jackson Hole meeting.
New Apollo baby bonds is launched and will trade shortly. Nice yield and investment grade rating.
MCI and MPV raise thei…
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