A nice bounce in the tech sector helped the broad market bounce as well yesterday. However, many of these names are still very expensive, so there are questions as to whether we’ve seen an important bottom in the recent sell-off in the tech group.
We receieved even more negative news out of China this morning…as well as more negative news on the banks. With long-term Treasury yields at testing 15-year highs, today’s (still) expensive stock market remains vulnerable as we head towards to the frequently volatile September/October timeframe.
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