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Position as we head until then until the end of the year. Correlations breaking down as we continue to see the Broader Market gain. The dow and s p, because they closed at records yesterday, gaining again. That means they are records once again in todays session. Lets take a look at the various components of the s p 500 to get a better picture of what is going on. We have Information Technology here it down, free from the bottom. That is one of the reasons the nasdaq is lacking. Telecom, financials, real estate are gaining. It isnot as clear not as though cyclical are lacking and defensives are gaining or vice a versa. It seems as though it is sector and stocks. Utilities are up, declining the most in the s p 500. You will get into that later in our sector spider report to one group we are seeing clear movement is within the mall owners. Moll real state investor trust ....
Would be more aggressive raising rates. That is hurting interestrate sensitive groups. The sale is also starting to other groups as well. There are some stock specific stories as well. All three major averages are selling to some extent after the big advance yesterday. Take a look at yields as we talk about whats happening in the rates market. Five basis point increase in the 10year yields. 2. 91 . Still not above the recent highs we have seen or that but still hovering around those highs from january 2014. The advance very clear when jay powell was giving his testimony. We have the market implied rateility of four increases this year. That has been increasing, now at its highest at 30 . Still only a third of a percent of a chance that it will be priced in. 34 , to be exact. Nevertheless, an increase. Some Company Specific stories we should talk about as well. They have to do with deals that may be will not be happening. America ....