The S&P 500 is on track to notch its 6th straight all-time-record high close today, up 2.5% YTD (and Nasdaq 100 up around 4% YTD), and up 19% from the October lows... even as yields have backed up significantly in recent weeks (as have rate-cut expectations)...
Today's cooler than expected PCE prints have left the S&P unchanged... so it's priced in...
