Stocks: A Steady Grind Higher

S&P advises patience with equities, as it expects crude oil prices to continue to fall, and bond yields to carry higher

The stock market bounced off key support areas last week, but considering the large decline in crude oil prices, we think the price action was less than robust. In addition, stocks did not seem to benefit much from the recent breakdown in Treasury prices, as we thought a less defensive stance by investors would have given stocks a bit more juice.

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