Newsletter
UK Prime Minister Gambles on Lifting Lockdown to Safe UK’s Economy
UNITED STATES The NASDAQ Composite hit record highs in its 8th straight gain, the S&P 500 closed well off its earlier 1.2% gain on the back of reports that there has been an increase in cases in most hotspots in the U.S (South and Southwest of the U.S). Most investors are betting that the trillion…
Read MoreImpasse between German ConCourt and ECB to be Resolved
UNITED STATES US stocks opened the week in the green continuing on the previous week’s uptrend. The NASDAQ closed in the green for a seventh straight session, gaining 1.10% while the S&P and the DOW rose 0.65% and 0.59% respectively. Yield on 10Y USTs closed higher at 0.7085%. UNITED KINGDOM Prime Minister Boris Johnson is…
Read MoreOil Shakes off COVID-19 Resurgence Concerns, Closing Higher for the Week
Last week the week began with news of a second wave in {CH} Beijing and lack of containment in some {US} US states. As the week progressed the situation in Beijing seemed to be contained while in the US there yet seems to be signs of containment. At the same time, oil shrugged off second…
Read MoreChina Plans to Step Up Purchases of US Farm Goods
UNITED STATES The markets are flaring slightly better this morning after a generally weaker tone all week amid the fears of the resurging coronavirus cases across the globe: Beijing’s most recent outbreak has now exceeded 150 cases and in the US Texas, Florida and Arizona reported a jump in cases. Equities traded down yesterday as…
Read MoreJohn Bolton’s Claim
UNITED STATES Overnight, sentiment came off a touch after coronavirus cases climbed and John Bolton’s claim that US President Trump had asked Chinese President Xi Jinping to help with his re-election bid. S&P was -0.4% lower while the NASDAQ showed a small 0.2% gain. The yield on 10Y USTs fell 0.04% to 0.702%. UNITED KINGDOM…
Read MoreBrazilian Real Slides Further as Treasury Secretary Resigns
UNITED STATES US stocks closed higher on Monday as the Fed announced an expansion of the scope of its $750 billion corporate debt loan facility. The NASDAQ led gains, up 1.43% while the S&P and the DOW closed 0.83% and 0.61% respectively. Yield on 10Y USTs closed higher at 0.7215%. UNITED KINGDOM Prime Minister Boris…
Read MoreUS Stocks Rebound but Close the Week in Red
UNITED STATES Friday saw US stocks rebound from Thursday’s tumble but the recovery was not enough to close the week in the green. The DOW led gains, up 1.90% on the day while the S&P and the NASDAQ rose 1.30% and 1.01% respectively. For the week, the NASDAQ slid a comparatively modest 2.33% while the…
Read MoreUS Equity indices fall the most since March amid recovery fears
UNITED STATES The markets have decided to remind us that March was not that long ago, plunging by the most in a day since the COVID selloff. S&P 500 traded down almost 6% and even NASDAQ managed to close -5%. USTs continued to rally with 10Y yield down 6bps to 0.66%, while oil continued declines,…
Read MoreFED Decision, Powell Speech
UNITED STATES During its meeting on Wednesday, FED left the rate unchanged at 0-0.25% and projected the benchmark to stay near zero at least until the end of 2022. The FED chair Jay Powell delivered a dovish assessment of the U.S. economic outlook, he said asset purchases will continue until they will see a meaningful…
Read MoreUS Non-Farm Payrolls in Surprise Rise for May
Asian markets are mostly, modestly in the green while European ones are trading lower this morning after the stellar gains of last week; US contracts are mixed to positive. The DAX is underperforming as German industrial production took a record hit of 17.9% in April, exceeding economist estimates, as the lockdown measures saw unprecedented closures…
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