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...

Opinion – Wednesday 13 December 2023

U.S. Equity Markets closed higher on Tuesday after the initial downside seen amid the release of the November US CPI figures unwound through the session. The Core CPI figures rose as expected — 0.3% M/M and 4.0% Y/Y — with upside coming from used vehicles...

Opinion – Tuesday 12 December 2023

Equity Markets were predominantly higher on Monday with stocks catching a bid from the open and grinding higher until the close with outperformance in the NASDAQ. The upside came despite notable weakness in the heavyweight stocks but with notable upside in the...