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Market Brief – Monday 7/19/21

Stocks and Treasury yields fell sharply in overnight trading but buyers were eager to buy the dip in equity prices as stock prices were rising off their morning lows in early trading. Treasury yields extended their decline until sellers attempted to push back.

The National Association of Home Builders Housing Market Index fell to 80 in July from 81 last month, indicating homebuilders remain extremely bullish on the housing market.

Stocks extended their early morning losses into the closing bell while Treasury yields, after trading sideways most of the day, also closed lower.