Major Market Moves on Friday were Attributed to the US Unemployment Rate Falling to 8.4%.
UNITED STATES A very quiet day on the cards due to Labour day bank holiday both in the US and Canada. Major market moves on Friday were attributed to the initial cheer of US unemployment rate falling to 8.4%. Headline NFP met expectations with around 1.371 Million. Then stock losses took hold led by the…
Read MoreRussian Markets Dropped after the Headline that Navalny was Poisoned by Novichok
US stocks closed at record highs second day in a row; yesterday S&P gained 1.5%, Nasdaq appreciated by 1% supported by reports that US officials restarted talks over an extension of support for out-of-work Americans. The yield on 10Y USTs lost 2.1 bps and closed at 0.649%. EUR currency lost 0.5% this morning after ECB…
Read MoreS&P Kicks Off The Month With Record Gains
UNITED STATES The S&P 500 index SPX added 26.34 points to close at a record 3,526.65 with a gain of 0.8% clinching its best August return since 1986. Major U.S stocks indexes closed higher ending near or above prior all-time records, as upbeat economic reports and dovish tones from the Fed helped feed the buying…
Read MoreCaixin Manufacturing PMI Records Highest Reading since 2011
UNITED STATES US stocks closed mixed on Monday albeit having had the strongest August performance in decades. The DOW shed 0.78% while the S&P was down 0.21%; the NASDAQ however gained 0.68%. The NASDAQ had its best monthly performance since 2000, while for the S&P and the DOW this August marked the best return since…
Read MoreUS Treasuries Sell off Sharply after Powell’s Inflation Comments.
UNITED STATES USTs had an oopsie yesterday with 10Y and 30Y yields jumping 9 bps and 14bps to yield 0.76% and 1.54% respectively at the time of writing, with both at their 2.5-month highs. Investors reacted to Powell’s remarks in Jackson Hall with a sharp bear-steepener, unsatisfied with the vague announcement of a new inflation…
Read MoreZAMBIN Bonds Sell Off as Central Bank Governor is Dismissed
UNITED STATES US stocks closed the week higher on Friday buoyed by some positive economic data; IHS Markit August PMI figures came better than expected with services notching almost 5 points at 54.8. the DOW led gains at 0.68% while the NASDAQ and S&P gained 0.41% and 0.34% respectively, both record closes. Yield on 10Y…
Read MoreFOMC Minutes Showed Uncertainty
The Wall Street closed lower on Wednesday as FOMC minutes from its July meeting shows no immediate plan to take unconventional measures to support the economy. S&P dropped 0.4%, Nasdaq lost 0.6%. The yield on 10Y USTs finished the day 1.6 bps higher at 0.6834%. Asian markets followed the US this morning, CSI is trading…
Read MoreDOW Closes Lower, But 6% off Record High
U.S stocks indexes did finish off the day on Tuesday, mostly in record territory, despite continued wrangling between Democrats and Republicans over further fiscal stimulus packages and concerns about how the economy will fare when an unprecedented raft of fiscal stimulus eventually burns off. The Dow fell 86.11 points, or 0.3%, to end at 27,844.91…
Read MoreBelarus Bonds Sell off Amid Continued Protests
UNITED STATES A rally in tech shares sent the NASDAQ to yet another record close on Monday despite the stalling of talks over the next stimulus package. The NASDAQ’s 1.00% gain saw it notch its 33rd closing record of the year with Tesla notably gaining 11.20%. The S&P closed 0.27% higher while the DOW shed…
Read MoreIsrael and the UAE: a Historical Breakthrough
UNITED STATES US Treasury curve steepening was at the front of investors’ minds this week as the impressive selloff in the long end UST continues. 30Y US Treasuries widened another 5bp yesterday to 1.42% (+25bps on the week); 10Y increased 5bp to 0.72%, while 2Y yield was little changed at 0.16%. The 2s10s spread reached…
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