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It’s been stunning to see the rally over the past couple months as data and Fed policy would normally weigh more heavily. However, the short squeeze has propelled prices as the potential for a Fed pivot was being anticipated. Today’s minutes failed to yield the typical returns as the rally was faded. The “inflation” in market prices may be reaching the terminal phase as hedges are building. (SPY, ICLN, CANO, TLRY, CGC, SPY, QQQ, LQD, TLT, RIG, FL)
