Opinion – Monday 11 December 2023

U.S. Equity Markets made modest gains on Friday, reversing an initial hawkish reaction to the hot NFP report with participants preparing for this week’s CPI and FOMC with a hesitation to miss out on the ‘Santa Rally’ too. The 199k jobs added in...

Opinion – Thursday 7 December 2023

U.S Equity Markets closed lower on Wednesday with big tech/NDX leading the downside, while small caps (Russell 2000) saw relative outperformance despite slipping into the red in late trade as part of the broader risk souring. Treasuries continued to see...

Opinion – Wednesday 6 December 2023

U.S. Equity Markets were choppy Tuesday with the S&P and NDX little changed whilst the Russell 2000 unwound some of its recent outperformance. The Indices hit their intraday peaks after the cash open, just on the heels of the dovish reaction seen in wake of the...

Opinion – Tuesday 5 December 2023

U.S. Equity Markets closed mixed on Monday with gains in the small caps (Russell 2000) offset by losses in the S&P and NDX. Most of the weakness occurred around the open with the Indices paring somewhat into the New York afternoon, with little new drivers or data...

Opinion – Monday 4 December 2023

Equity Markets were largely firmer on Friday although there was particular outperformance in the Russell 2000 with regional banks and cyclicals finding a particular bid. That was a result of the yield backdrop with the Treasury curve seeing massive bull-steepening (2s...

Opinion – Thursday 30 November 2023

U.S. Equity Markets and Treasury Bonds had seen upside throughout Wednesday’s European morning after cooler-than-expected inflation prints from German states and Spain, with the later released national German CPI also much cooler than forecast. US equity futures...

Opinion – Wednesday 29 November 2023

US Equity Markets saw plenty of choppy trading yesterday before finishing in positive territory. Gains were capped after fading the initial rally that was spurred by dovish comments from Fed’s Waller who talked up the potential for rate cuts next year whilst...

Opinion – Tuesday 28 November 2023

U.S. Equity Markets closed Monday with small losses following an ugly Home Sales Report and a dip back into contraction for manufacturing production. The theme of disappointing economic data saw Treasury Yields close nine basis points lower at 4.39%. No one really...

Opinion – Monday 27 November 2023

U.S. Equity Markets rallied for the fourth consecutive week. This is the longest winning streak since June. Both the Dow and Small Cap Russell 2000 led Friday’s gains on plunging economic data which is supporting the trend for more interest rate cuts. Meanwhile,...

Opinion – Thursday 23 November 2023

U.S. Equity Markets closed higher in a quiet Market ahead of today’s Thanksgiving Holiday. In a lacklustre session, the Dow led Wednesday’s gains, closing 0.53% higher. The main highlight from yesterday’s trading was the noticeable in Jobless Claims which printed 209K...

Opinion – Wednesday 22 November 2023

US Equity Markets closed lower with risk appetite subdued amid pre-Thanksgiving positioning and after soft data, while the FOMC minutes were stale and noted that the Fed is in a position to proceed carefully whilst stressing the need for restrictive policy for some...

Opinion Tuesday 21 November 2023

U.S. Equity Markets closed higher on Monday led by the big tech bias underscored by Microsoft’s (MSFT) recovery amid the fluid OpenAI situation, which dominated newsflow in an otherwise quiet session. Treasuries saw bull-flattening amid a well-received 20yr...

Opinion – Monday 20 November 2023

U.S Equity Markets were little changed, again, on Friday with the Indices continuing to lack direction after the rip higher on last Tuesday’s CPI. There was a degree of profit-taking into the cash open but that pared. Treasuries were mixed with bear-flattening...

Opinion – Thursday 16 November 2023

U.S. Equity Markets were choppy on Wednesday, closing off their best levels seen earlier in the session, but Indices still remain near their post-US CPI highs. There was a confluence of factors to digest, with another very soft inflation report seen via the US PPI...