Is Utilities strength in a rising Rate environment sending a warning?

US Equity indices and Treasury yields remain quite choppy, but it’s thought that SPX and QQQ stall out and might reverse before exceeding 9/1 peaks (SPX-4541.25, QQQ-380.83) Treasury yields look likely to break out to new 2023 highs, and I suspect this will be short-term negative for Equities.  Only on a TNX break under 4.05% would it be right to trust an Equity bounce in September

It might seem unusual to experience a 1% equi...

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