Opinion – Wednesday 3 January 2024

U.S. Equity Markets closed lower on Tuesday, with big tech leading the losses, exhibited by the equal-weight S&P 500 outperforming the market cap-weighted benchmark. There was not one singular reason for the stock weakness, with desks pointing to both fundamental...

Opinion – Tuesday 2 January 2024

U.S. Equity Markets closed lower on Friday despite a strong comeback in the last hour of trading. The NASDAQ 100 led the declines with a 0.43% fall following a volatile last trading session for 2023, which saw plenty of two-way price action. Despite the El...

Opinion – Thursday 28 December 2023

U.S Equity Markets have reversed all of last Wednesday’s one-day reversal, closing at new highs for the year. These moves higher saw both the Dollar and Treasury Yields crushed. Ten-Year Treasuries are now trading at 3.80%. Both Gold and Bitcoin have surged last week....

Opinion – Thursday 21 December 2023

U.S. Equity Markets ultimately sold off on Wednesday amid a large volume spike in the New York afternoon with the S&P 500 and the Russell 2000 catching up to the earlier big tech/NDX underperformance. The downside came in the absence of a fresh catalyst, with...

Opinion – Wednesday 20 December 2023

The Santa Rally continued on Tuesday but this time the Russell 2000 and equal-weighted S&P led the NDX and S&P 500, with the lower yield environment helping after the Bank of Japan stood pat. Treasuries (10yr yield -3bps at 3.93%) tracked JGBs firmer after...

Opinion – Tuesday 19 December 2023

U.S. Equities were firmer Monday with the NDX leading the S&P 500 higher gradually through the session. There was a lack of obvious catalysts, but perhaps legacy equity bear Mike Wilson (at Morgan Stanley) turning bullish on the market had an outsized effect in a...