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But we saved everything 🙂.
More than $2 trillion of capital allocators were present at a recent gathering, according to Sonali Basak. Basak also attended other large events hosted by Citadel Securities and other major financial institutions over the week to better understand current market themes. She described a prevailing focus on the concept of a 'wave of divergence' as the main takeaway from these discussions.
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Basak recently noted that all 11 S&P 500 sectors are projected to report positive EPS growth, marking the broadest earnings advance since the pandemic period, in a prior report. She also covered the U.S. raising $39 billion in a 10-year Treasury auction at a 5.3 percent yield as borrowing costs reached multi-decade highs in her previous coverage. These developments provide additional context to current discussions among major capital allocators about market divergence.