What to make of a record-setting market rally that elicits more mistrust than fear of missing out? The S & P 500 has made an all-time high on nearly thirty days this year, four of them this past week. U.S equity wealth has never been greater, and the index path has even been pretty smooth: In eight of the last ten trading days, the S & P 500 has moved less than 0.3%.
22%, alongside a series of cooler inflation readings and somewhat softer economic numbers. In recent times, yields down has meant stronger breadth, with financial, cyclical and small-cap stocks getting some relief. That's not the case thus far in June, as the market implicitly exhibits greater sensitivity to hints of an economy decelerating more than desired by the Federal Reserve or investors. The Citi U.S.
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