- It was a mixed session for equity markets yesterday as Europe finished in the red, whilst the S&P and the Nasdaq both ended the day modestly in the green.
- We have issued a note on Alphabet this morning reiterating our Buy recommendation and increasing our price target to $260 from $280, implying 15% upside as the company continues to drive growth across its traditional sectors with potential for upside as the cloud business regains momentum.
- Treasuries climbed and bond yields fell yesterday, as economic data pointed to a slowdown in the labour market in the US, reinforcing expectations that the FED is done its rate hiking cycle.
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