Has software become a defensive name amid all the hustle and bustle surrounding the Middle East conflict? I would not go that far. Has it become a safe-haven from the volatility of oil? Again, likely a bridge too far, but based on recent performance (+6.5% in March), there is an argument to be made. As headlines flash across our screens of will they or won’t they open/close the Strait of Hormuz, one thing is clear, traders just don’t know. Volumes once again were depressed more than average as…
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