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Market Brief – Friday 9/24/21

Stocks started the day slightly higher but were struggling in early trading to extend their overnight gains. Global government bonds saw selling in overnight trading sending Treasury yields higher as investors fear central bank balance sheet tapering will lead to higher interest rates.

New home sales rose +1.5% or 740k homes in August and -24.3% from this time last year.

Stocks closed slightly higher on the day and Treasury yields were slammed higher for the second day in a row.