U.S. stocks have clawed back much of their losses from the first half of the year, but the three major indexes tumbed this week under reviving fears about interest rate rises by the Federal Reserve. According to strategists at Citi Research, the current bear market rally is almost in line with the length of an average bear-market bounce. Bear market rallies are often sentiment driven, as the market just becomes too bearish,” wrote Citi research strategists led by Dirk Willer, the managing director and head of emerging market strategy, in a note on Thursday. “The Fed pivot narrative has been an important catalyst” said Willer. Meanwhile, the SKEW index for the S&P 500, which measures the difference between the cost of derivatives that protect against market drops . . .
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