Treasuries resumed their move higher with a 5bp move higher in 10-year yields, while equities rebounded to close ~1% on the SPX after a late Friday sell-off. Google (+2.6%), Meta (+1.9%), and NVDA (+1.5%) led the way higher, while Apple (-1.5%) and TSLA (-2.1%) faltered, with the latter seeing a surprise resignation from CFO Zachary Kirkhorn, who was seen as a possible successor to Elon as future CEO.

Technically speaking, Friday's sudden equity sell-off is raising some potential concerns on various technical chart patterns, with both SPX and Nasdaq close to printing bearish-outside weeks, while equity VIX has potentially completed a double-bottom as well. Something to keep in mind for our more trading-minded readers as we head into historically less friendly seasons for stocks into the Sep-Nov calendar periods.