Opinion – Wednesday 6 April 2025

U.S. Indices closed higher on Tuesday after again reversing overnight weakness on trade worries, and once US trade was underway. Upside extended in the wake of the rise in April JOLTS ahead of the May NFP due Friday, which also saw bonds pare earlier gains. Sectors...

Opinion – Tuesday 3 June 2025

U.S. Indices closed ultimately closed Monday’s session in the green with the NASDAQ leading the gains as outperformance in the Tech sector kept Indices bid once cash equity trade was underway. The majority of sectors were green, but there was clear outperformance in...

Opinion – Thursday 29 May 2025

U.S. Indices closed lower (SPX -0.6%, NDX -0.5%, DJI, -0.6%, RUT -1.1%) but still remained well in the green for the week thus far, with focus on NVIDIA (NVDA) AMC. Note, NVIDIA beat on profit and revenue, despite incurring a USD 4.5 billion charge in Q1; Q2 revenue...

Opinion – Wednesday 28 May 2025

U.S Indices rallied on Tuesday on the return from the long weekend with markets reacting to US President Trump delaying his 50% tariff threat to the EU to 9th July from 1st June, allowing more time for negotiations. The market also caught a bid on the sharp rebound in...

Opinion – Tuesday 27 May 2025

U.S Indices closed lower on Friday but well off earlier lows, which were induced after US President Trump touted a 50% straight tariff on the EU. On top of this, and weighing on stocks, was US President Trump suggesting at least 25% tariffs on Apple if it does not...

Opinion – Thursday 22 May 2025

It was a “sell US” day on Wednesday with equities posting notable losses while Treasuries were sold across the curve, particularly in the long end to see the curve steepen. Amid a lack of data this week (aside from Flash PMIs on Thursday) the US focus has...

Opinion – Wednesday 21 May 2025

U.S. Indices were choppy but ultimately closed in the red on Tuesday, with the majority of sectors lower while defensives outperformed. With a lack of US data yesterday, the focus was on US President Trump’s tax bill talks. The President attempted to get...

Opinion – Tuesday 20 May 2025

U.S. Indices saw two-way price action on Monday and ultimately closed little changed, albeit the Russell 2000 underperformed. The session started rather sombre with downside in US stocks, bonds and the Dollar in the wake of Moody’s downgrading the US credit...

Opinion – Monday 19 May 2025

U.S. Indices ended Friday’s session with slight gains, albeit in thin newsflow on Friday, as the main event of the week came before US players even got to their desks on Monday. That is, the US and China agreed to cut tariffs on each other by 115ppts. Back to Friday,...

Opinion – Thursday 15 May 2025

U.S. Indices closed mixed on Wednesday (SPX +0.1%, NDX +0.6%, DJI -0.2%). Gains were seen in the Mag-7 led sectors, namely, Communications (GOOGL +3.7%), Tech (NVDA +4.2%), and Consumer Discretionary (TSLA +4.0%). Additionally, AMD’s announced USD 6bln stock...

Opinion – Wednesday 14 May 2025

U.S. Indices extended on gains seen on Monday, as largely cooler-than-expected US CPI provided an additional fillip to US equity futures, albeit only being short-lived. Thereafter, as sentiment continued to improve through the US afternoon, broad-based risk-on trade...

Opinion – Tuesday 13 May 2025

U.S. Indices surged on Monday as risk-on trade was seen to start the week amid the positive trade developments between the US and China, whereby both countries agreed to cut tariffs by 115ppts, in what was a much larger drop than expected. The combined 145% US tariffs...

Opinion – Monday 12 May 2025

U.S. Indices were little changed (SPX -0.1%, NDX unchanged, DJIA -0.3%, RUT -0.1%) with markets now awaiting the outcome of US-China trade talks over the weekend. On the day, both stocks and Treasuries chopped to US President Trump floating the idea of a reduction in...

Opinion – Thursday 8 May 2025

U.S. Indices ended Wednesday day in the green after a session that saw plenty of two-way price action in wake of the Fed decision and Powell press conference. The decision was largely as expected, with rates left unchanged, although in the accompanying statement added...