Nomura’s McElligott On A ‘Messy’ Nasdaq Amid Duration Drama

"This further acceleration in the rates selloff is re-triggering the same point I’ve made in Equities for years now," Nomura's Charlie McElligott said, in a Tuesday note. If you've been awake and are fortunate enough to have a pulse 12 months on from the worst public health crisis in a century, you can write the rest of this story yourself. Equities expressions tethered to the yearslong "duration infatuation" in rates are now extremely vulnerable, as the US curve bear steepens to 2014 wides

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