Despite ostensibly strong macro indicators through the week – including a GDP print well above expectations, core PCE in line with consensus, and a W/W retreat in US Treasury yields – equities traded poorly, with the S&P entering a 10%+ correction for the first time since October 2022.
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Despite ostensibly strong macro indicators through the week – including a GDP print well above expectations, core PCE in line with consensus, and a W/W retreat in US Treasury yields – equities traded poorly, with the S&P entering a 10%+ correction for the first time since October 2022.