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...

Opinion – Monday 18 December 2023

U.S. Equity Markets closed mixed on Friday following a volatile trading session on the last Quadruple Expiration for the year. The Dow again led the gains hitting a fresh all-time high during the session. Fed Member Goolsbee did not rule out a rate cut in March and...

Opinion – Thursday 14 December 2023

U.S. Equity Markets, Bonds, and Gold all surged while the Dollar slumped in response to the ubiquitously dovish FOMC. The gains were led by the small-cap Russell 2000, with regional banks flying, while the equal-weighted S&P beat the market cap-weighted index...