Daily Wrap

The S&P 500 gained +0.4% today, overcoming a -0.7% intraday decline on no specific news catalysts, but as suspected, short end yields came down today. Two early headwinds for the market included technical resistance at the S&P 500’s 200-day moving average (4492) and upwards pressure in long-term interest rates. The 10-year yield settled higher by…