Oil 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…
Read MoreAll Eyes on NFP Data, After OPEC+ Talks Breakthrough
UNITED STATES What a week we had! The rally encompassing both equities and fixed income markets had traders scratching their heads and bears getting doubling the “overpriced” rhetoric, especially since markets continued to be unresponsive to neither any negative news on the US-China or HK front, nor to the US nationwide unrest, something that in…
Read MoreECB Rate Decision Today
UNITED STATES US stocks showed 4th consecutive day of growth yesterday despite mass protests and rising tensions between Beijing and Washington– S&P added 1.4% while Nasdaq appreciated by 0.8%. The yield on 10Y USTs gained 6.1 bps to .747% level. On another note, ISM Non-Manufacturing PMI figures came above expectations – 45.4 vs 44.0. On…
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