![]() Large buying first concentrated on the 2-year and the 5-year notes. Treasuries jumped in price and yields plunged on slower-than-expected CPI data. US treasury (TLT:xnas, IEF:xnas, SHY:xnas) soared, yields tumbling 22 to 30bps across the curve The shift of sentiment from risk-off to risk-on saw the crypto stabilize and Bitcoin rally 13%. Amazon (AMZN:xnas) surged 12%, Meta (META:xnas) gained 10.3% and Apple (AAPL:xnas) climbed 8.9%. Semiconductor names surge, Marvel Technology (MRVL) up 16.1%, Nvidia (NVDA:xnas) up 14.3%, and Advanced Micro Devices (AMD:xnas) up 14.3%. ![]() All 11 sectors of the S&P 500 rose, with the information technology, real estate, and consumer discretionary sectors leading the charge higher. ![]() US equities surged the most since 2020 on a softer-than-expected CPI report. What’s happening in markets? The S&P 500 (ESZ2) jumped 5.5% and Nasdaq 100 (NQZ2) soared 7.5%, staging the biggest rally in two years
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