(Bloomberg) — A shock turnaround in equities sent Wall Street searching for something — anything — to explain how yet another red-hot inflation number translated into the best day for bulls in a week.
Among the answers: increasingly sturdy positioning including well-provisioned hedges, a watershed moment for chart watchers, and several less-than-terrible earnings reports. Throw in some short covering, and the result was a trough-to-peak run-up in S&P 500 futures that approached 5% at its…
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