Dash for Trash, Negative Breadth at Record Highs amid Re-Emerging War Correlation

Amid the chaotic geopolitical developments, the macro backdrop proved more constructive than expected. Oil prices remained surprisingly restrained despite escalating tensions, and Treasury yields edged modestly lower. Adding to the positive tone, a perfectly timed, rosy Axios headline landed exactly when the market needed it most, on the second-to-last day of a holiday-shortened week that…