Add the Chicago Fed's National Activity Index and Existing Home Sales to the list of disappointing macro data recently, and the soft-landing (or even goldilocks) narratives are starting to sound like a fairy tale...
Source: Bloomberg
Financial Conditions continue to loosen dramatically...
Source: Bloomberg
Treasury yields were mixed with a steepening bias (2Y -3bps, 30Y unch), which recoupled yesterday's flattening...
Source: Bloomberg
Stocks were lower, given back much of yesterday's gains with Small Caps the biggest loser (red on the week)...
Yesterday's squeezed-stocks reversed their gains today...
Source: Bloomberg
Mega-Cap tech erased much of yesterday's gains...
Source: Bloomberg
Banks gave back recent gains, back to one-week lows...
VIX continued to decline today (to 131.13) as Skew hit a record low. SDEX index (in red), measures the value of a 1-month at-the-money SPY put, vs a 1-month "one standard deviation out-of-the-money" put, reflects put prices are sliding markedly lower.
Source: Bloomberg
The dollar rebounded during the US session today to end marginally higher (after 6 down day in the last 7)...
Source: Bloomberg
It was a choppy day in crypto-land amid headline about DoJ freezing some Tether holdings and the Binance settlement. BTC tumbled to $36.300 before bouncing back up to $37,500 and settling around $37,000...
Source: Bloomberg
Spot Gold prices topped $2000 once again...
Source: Bloomberg
Oil prices were flat on the day, with WTI hovering around $78
And finally, of course, NVDA reports tonight..
Source: Bloomberg
What happens next?
Add the Chicago Fed’s National Activity Index and Existing Home Sales to the list of disappointing macro data recently, and the soft-landing (or even goldilocks) narratives are starting to sound like a fairy tale…
Source: Bloomberg
Financial Conditions continue to loosen dramatically…
Source: Bloomberg
Treasury yields were mixed with a steepening bias (2Y -3bps, 30Y unch), which recoupled yesterday’s flattening…
Source: Bloomberg
Stocks were lower, given back much of yesterday’s gains with Small Caps the biggest loser (red on the week)…
Yesterday’s squeezed-stocks reversed their gains today…
Source: Bloomberg
Mega-Cap tech erased much of yesterday’s gains…
Source: Bloomberg
Banks gave back recent gains, back to one-week lows…
VIX continued to decline today (to 131.13) as Skew hit a record low. SDEX index (in red), measures the value of a 1-month at-the-money SPY put, vs a 1-month “one standard deviation out-of-the-money” put, reflects put prices are sliding markedly lower.
Source: Bloomberg
The dollar rebounded during the US session today to end marginally higher (after 6 down day in the last 7)…
Source: Bloomberg
It was a choppy day in crypto-land amid headline about DoJ freezing some Tether holdings and the Binance settlement. BTC tumbled to $36.300 before bouncing back up to $37,500 and settling around $37,000…
Source: Bloomberg
Spot Gold prices topped $2000 once again…
Source: Bloomberg
Oil prices were flat on the day, with WTI hovering around $78
And finally, of course, NVDA reports tonight..
Source: Bloomberg
What happens next?
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