As we noted in last night's end of day discussion, Mag7 stocks are making a major statement of pushback against the “End of U.S. Exceptionalism”–theme, with USD-Assets bid-again against what’s been “Doomsday–Lite” sentiment and positioning on U.S. as META and MSFT do some heavy lifting, but perversely, as Nomura's Charlie McElligott points out, at the same time that USTs are further rallying as U.S. growth prospects continue looking “wobbly to quite wobbly.”
Source: Bloomberg
