The View from 5th Avenue

The View from 5th Avenue – 21 March 2023

Drumroll please! Headlines overnight of potentially more support for deposits via the Treasury spurred a re-risking in the US markets. Traders had swarmed to the safety of Treasuries the last week and a half to hide from the regional bank fallout. This pushed yields to ytd lows, while also propping the quality companies higher (think mega-tech). Those quality names maintained their gains today however, pushing the S&P Growth factor to yet another daily outperformance versus Value (13 days in a…

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