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Never forget the rates gap

NASDAQ vs US 10 year (inverted) continues trading with the huge gap. Equities began to care about the rates narrative last week (again), so don't expect massive equity bounces unless rates start moving lower.

Source: Refinitiv
Source: Jefferies
Source: Refinitiv
Source: Nomura
Source: Refinitiv
Source: Morgan Stanley
Source: JPM
Source: JPM
Source: GS/Bloomberg
Source: Refinitiv
Source: Refinitiv
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