Dunks Update

The equity market rally that began at the June low for the S&P 500 continues to grind higher despite hawkish rhetoric from nearly all Fed governors suggesting that the “Dovish Pivot” interpretation has been incorrect.  Although there was a huge payroll employment figure released last week, investors are being more influenced by today’s softish CPI data release relative to expectations. 

Thus, it appears right now that the only things that really matter for equity markets are the...

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