Morning Note | May 12, 2022
Good Morning!
Futures are lower again today as the risk-off behavior continues. Most sentiment indicators are flashing oversold conditions. Bloomberg reports that 32% of the S&P now trades below its pre-pandemic levels. 50% of the Russell 2000 is below pre-pandemic levels. Despite the hotter CPI print, 75bps is being downplayed in recent Fedspeak. W…
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