Morning Note | January 19, 2023 | New JP Morgan Corp Bond at 5.0%, 2-Years of Call Protection
Good Morning!
Futures are strongly lower as the market is part of a global risk-off tone and back to thinking the Fed will overtighten. Yields are lower again after tumbling yesterday with the 10-yr down below 3.4%. MegaCaps and Metals/Miners are the biggest laggards. Yesterday, the SPX had its worst day since Dec 15, failing to hold the 200dma. The ma…
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