The S&P 500 selloff reached the 19% correction level last week due to the liquidity shock. However, the selloff possibly capitulated on May 12th with the blowoff of few stablecoins. Fundamentally, due to the peak CPI inflation/peak inflation expectations/peak Fed hawkishness, the liquidity risk should decrease and S&P500 should bounce – expect the bear market rally (real full report)

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