The Market in Pictures, July 24

Our team looks at a lot of research throughout the day. This week’s charts center on a violent rotation beneath a calm surface: semis selling off hard, AI winners giving back gains, and the 1st half’s laggards taking the lead, all while the average stock...

The Bond Environment Entering the Warsh Regime

Treasury Curve Movements   The yield curve today looks drastically different than the beginning of the year. The largest increases have occurred in the belly of the yield curve, with 2s rising the most at a 59 bp increase since the start of the year, with lesser...