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Market Brief – Monday 2/28/22

Stocks started the day lower but quickly ramped into the green in early trading. Treasury yields also started the day lower and were holding their overnight decline in early trading.

Wholesale inventories rose +0.8% and retail inventories rose, excluding autos, rose +1.7%.

The trade deficit hit a new record of -$107.63 billion.

The Chicago PMI expanded at a slower rate in February as it fell to 56.3 from 65.2.

Stocks closed lower on the day and Treasury yields continued their slide to close lower on the day.