The mild risk off tone continued yesterday with both equities lower (S&P500 -0.4%, Euro Stoxx -0.3%), and Bond Yields lower (USTs -3.9bps, Bunds -21bps), while the VIX crept higher but is still at a low 12.91. Economic data certainly does not support the risk off tone with US CPI and Retail Sales coming in in line with expectations, while German GDP yesterday was stronger than expected. US Core CPI was 0.2% m/m with the y/y rate a tenth ahead of expectations at 1.8%. The in line CPI print helps the case of Fed officials who have argued the recent slowing in inflation was due to one-off factors and did not represent a broader slowing. The on consensus print may also help assuage the Doves; note Evans was out yesterday stating he fears the public is losing faith in the commitment to get inflation back to the 2% target.

To mark my 1475th issue of Tradernoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested in this offer can you please contact me on bryan@tradernoble.com for details.

For anyone following my Platinum Service it made 187 points yesterday and is now ahead by 665 points for November, having made 657 points in October, 447 in September, 1560 in August, 1096 in July, 1023 in June, 1076 in May, 1375 in April, 1335 in March, 1481 in February and 1734 in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points.

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