Mid-Week Data Watch

This morning we received a decidedly positive data set from ISM and a much less positive payroll report from ADP. Markets have decided to look on the bright side and risk assets are rallying with enthusiasm, while bond prices are falling.

In last weekend’s weekly review, we said the charts suggested a long stocks and short bonds swing trade was in order. Looks like that may have been a pretty good call. Now let’s see if it lasts.

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