13F Pro · Market Intelligence Briefing

Fed hawks reprice the front end; equities surrender ground across all twelve sectors.

When the 2-year yield jumps 15 basis points in a single session and zero sectors close higher, the message is not sector rotation — it is a wholesale reassessment of the discount rate embedded in every equity valuation.

Committee position: 60/40Breadth: 0 of 12 sectors higherDispersion: 2.21 pts10 analysts

A hawkish Federal Reserve hold — with multiple members signaling a potential 2026 rate hike — sent 2-year yields up 15 basis points, driving all twelve sectors lower in a broad, rate-driven selloff with Consumer Discretionary and Real Estate absorbing the sharpest losses.

Since the last briefing

Yesterday's position held AI-infrastructure hardware as the highest-quality expression and treated MU as unresolved pending an earnings-quality datapoint.

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The rest of this briefing

What drove the session and how it transmitted, the exposure table by persistence grade, where the committee disagreed, its verdict and weighting, and the falsifiers that would prove it wrong.

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