Who cares about surging rates when there is a Royal Merger

Keith Schneider | May 20, 2018

Despite the headwinds of higher oil prices, surging interest rates (chart above is 1-3-year bond prices SHY) and higher industrial metals, US equity markets digested strong gains from the prior week ending down less -.5%.  The exception was the Russell 2000 (IWM) that was up 1.2% closing at new record highs on Friday on big weekly volume. US Equity inflows totaled almost nine billion which mostly flowed to those small caps (IWM) which we have

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