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Draho expects the S&P 500 to trade between 4,200 and 4,600 until investors determine whether the economy will be able to avoid a recession. The index was recently around 4,365.
Yields on the benchmark 10-year US Treasury, which move inversely to bond prices, are down about 35 basis points from 16-year highs hit in October.
Many are tempted to jump back in after months-long selloff
Hopes that a rout in Treasuries has run its course are tempting some investors back into the U.S. stock market after a months-long selloff. The relationship between stocks and bonds has...
The S&P 500 and Nasdaq Composite were in correction territory after dipping more than 10% from recent peaks. Will the stock market recover?