Write-Offs.

Write-Offs.

What depression? US equities logged their first consecutive weekly gains since the onset of the pandemic panic after a rousing Friday session that found small-caps surging more than 4%. It was the third-best session for small-caps versus big-cap tech in years, and helped take some of the air out of what was rapidly become an overextended trade. There's more on that here, but suffice to say there's a strong argument to be made that big-cap tech has managed to enter "bubble" territory, at least
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