AM/FX: Equity market sensitivity to rates keeps rising

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Today’s note looks at why you can’t solve equities with a one variable equation: Fed’s Balance Sheet.

But you can partially solve equities with a 2-variable equation.

Also: why a rise in 2-year yields is more and more bearish equities relative to history. And some crazy accurate predictions from 1997.

BD
by Brent Donnelly

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