Day in Review
A sharp sell-off overtook U.S. markets on May 21, with all major asset classes moving more dramatically than our “moderate” risk outlook had anticipated. Equities plunged (S&P 500 –1.6%, Russell 2000 –2.8%), Treasury yields spiked above forecast (10-year to 4.60%, 30-year to 5.10%), and commodities saw a volatile swing—WTI briefly jumped to…
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