- The major US indices traded modestly in the red most of the session, before a weak last 30 mins saw them close at their lows of the day. The technology sector continued to outperform, with most other sectors recording declines, led by real estate and consumer names.
- We are releasing an updated research note on TotalEnergies this morning, following the energy group’s recent Q1 results. Our Buy rating and €72 price target are unchanged, and the stock remains on our Analyst Conviction List.
- Sovereign bond yields ticked higher across the board yesterday and European bond yields also rose slightly.
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