Defensive Market Tone Is Back & Potential Long Trades in Biotechs

1:37 p.m. ET Since last week’s CPI report came in hotter than expected — which killed the market’s dovish “Rate Cuts Sooner Than Later”, and re-introduced “Higher For Longer” (which richly valued Tech stocks don’t love) — we’ve been seeing a more defensive bias in the equity market, with the exception of yesterday’s full blown…