The session still dominated with the move in the ten-year bond yield and continued gusher in crude oil, which we flagged last week. On the equity side, I'm very impressed with the Russell 2000 but the index has been sideways for months. When it breaks in either direction, there should be a monster follow up move.
All eyes are also on Washington DC, as well as Speaker Pelosi, who has promised the infrastructure bill will pass this week. The question is, how can that happen if the $3.5 trillion spending and taxing bill continues to face resistance from within the Democratic Party? All things considered this session could be a lot worse. The final hour of trading will be very telling.
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