Macro Morning

By Chris Becker 

Overnight markets were effectively sidelined by traders waiting for Fed Chairman Powell’s testimony with European stocks retreating while US stocks put in some minor gains, led by tech issues on the NASDAQ. Interest rates nudged higher with the 10 year Treasury up to 2.07% as the chance of a rate cut from the Fed in July dropped slightly again, while the USD remained strong against the undollars.

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