FTXN - Energy Stocks Get Pummeled As The Inflation Narrative Continues To Correct Itself

• Following the June CPI print, value and cyclicals have materially underperformed growth.
• Bonds have also rallied relentlessly creating havoc on the macro front.
• OPEC+ discord played a role in spooking generalists, but this will be resolved soon given recent news release on Saudi/UAE agreeing to a deal.
• While the market views inflation as transitory, we know just from the oil supply side that the tailwind for inflation is there.
• As energy stocks correct, look for opportunities to add on this recent pullback.

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