Via a note from Deutsche Bank saying negative momentum is not easing. S&P 500 has managed to rise for 23 of the last 30 weeks, DB says this is a joint record since 1989The 'however' is that the broad market pullback on Wednesday and Thursday suggests momentum is now more negativerise in longer-dated yields proved bad news for global risk assetsBonds took a particular hit after a weak US Treasury auction yesterday, along with mounting concern about inflationary pressuresa tough backdrop for markets across several asset classesthe relentless run of gains in recent weeks was always going to be tough to maintain This article was written by Eamonn Sheridan at www.forexlive.com.
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