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FI Sell-Off Accelerating

US TSYS
Markets have gone from a cessation of risk-off this morning to cautious risk-on by noon and is apparently entering high-gear risk-on at the moment with bonds making new session lows (30YY 2.2213 +.1167) at the moment -- as stock indexes making new session highs (SPX eminis near 4395.0).
  • Again, no obvious standout headline driver, but some desks cite short covering after the rout since Monday on hopes of some peace accord as Ukraine delegates said to be heading to talks with Russian counterparts.
  • Leading SPX sectors at the moment: Energy, Financials and Materials -- all seeing some relief bounce after punishing sell-off/reaction to global sanctions on Russia.

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