TMTB EOD

Good afternoon. The divergence we called out this weekend continues to play out in tech with red names out numbering green, but a handful of moves such as AMD’s and NVDA’s holding up the QQQs and helping the SOX finish +1.3%. BTC +1.4%. Yields were up 8-13bps across the curve . BAML called out a bit of a Trump trade in some market moves today:

bond yields up on fiscal extension; no bailout for unprof clean energy; Defense down on shift away from muscular Pax Americana; oil supply unleashed "drill baby drill;" China tumbles

---