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FTDS - Neither Bonds Nor Inflation Are Cooperating
FIRST TRUST EXCH
In order to extend the rally in the stock market, we needed good news on the inflation front, and we needed the bond market to remain well-behaved.
The resulting declines late Thursday and early Friday came quickly, putting us back in a situation where a retest of the May lows seems likely.
For the May lows to hold, we need to remain under 3.25% on the 10-year Treasury yield and for the inflation numbers – such as this morning’s Producer Price Index – to show some improvement.