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A Bloomberg report has new details about Citigroup's equities division's toxic culture. A lawsuit filed last year said it persisted as late as 2022.
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"There are significant market implications arising from the stark contrast in the policies promulgated by the two candidates for president," UBS said.
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The benchmark index has been flirting with 5,000 in recent days. UBS strategists say the recent strength in equities has been well-supported.
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A slate of economic indicators point to accelerating growth at the start of 2024, and supply chain snags have had little impact on prices.
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"In equities, we retain a defensive stance and are unwilling to chase the past two weeks' rally," JPMorgan's Marco Kolanovic wrote.
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"We didn't have inflation for 40 years, so everyone sort of forgot about that bond-bad inflation outcome," Wharton's Jeremy Siegel told CNBC.
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The consequences of soaring bond yields have become clearer for investors across financial markets.