Market in review 1/18/2024
MARKET REPORT Review: – Philly Fed up, (albeit less than expected) – Bostic reiterated willingness to cut rates before July if data permits – Housing starts ease vs building permits rise – Jobless Claims down – US Senate stopgap funding bill to avert government shutdown secures enough votes to pass. – Apple strongest day in […]
Market in Review 1/17/2024
MARKET REPORT Review: – US Retail sales – Strong (+.6 Exp +0.4) – US Homebuilder optimism jumped – US Industrial Production better than expected – UK Inflation HIGHER (CPI Exp +3.8% Act +4.0%) – US 10yr above 4% – Mar rate cut odds tumble – 57% chance the Fed cuts, down from a 67% chance last week and 71% […]
Market in Review 1/12/2024
MARKET REPORT Review: – Surprise decline in producer prices reinforced bets on Federal Reserve rate cuts this year. – Traders are pricing in an 80% chance of a Fed reduction in March — up from a little over 50% a week ago – Expectations for 2024 rate-cuts exploded to new highs at 170bps (now fully […]
Market in Review 1/11/2024
MARKET REPORT Review: – Headline CPI rose 0.3% in Dec – 0.2% forecast, 0.1% prev in Nov – Annual rate rose 3.4% Y/Y – 3.2% forecast, prior 3.1% – likely see the Fed continue to push-back on market pricing for early rate cuts – money markets still price a 65% probability of a 25bps rate […]
Market in Review 1/10/2024
MARKET REPORT Review: – Steve McClurg, co-founder and chief investment officer of Valkyrie Funds, has suggested the potential approval of Ethereum or XRP exchange-traded funds (ETFs) following the expected launch of spot Bitcoin ETFs in a recent Bloomberg interview. ETHEREUM SURGES +10% – Oil falls as Stockpiles override Houthi shipping attacks – Treasury 10yr yield […]
Market in Review 1/9/2024
MARKET REPORT Review: – Oil supply concerns (Middle East) – RCM/TIPP Economic Optimism lifts – Samsung Electronics profits fall for sixth straight quarter – ETH rallies 5% on close DOLLAR closed up small: – AUD down: 66.85 -0.5% (67.14 – 66.79) close off bottom rge – EUR up: 91.48 +0.22% (91.19 – 91.63) […]
Market in Review 1/8/2024
MARKET REPORT Review: – NY FED SCE (DEC) one-year inflation expectation is at 3% (prev. 3.4% in Nov) which is the lowest since January 2021 – United Airlines (UAL) found loose bolts on plug doors during the 737 MAX 9 inspections and discrepant bolts and other parts on the Plug Doors have been found on […]
Market in Review 1/5/2024
MARKET REPORT Review: – NFP: – Exp +170 ‘actual’ 216K, above all but 2 estimates and the highest in 4 months, severely reducing the case for March rate cut – Rate Exp 3.7% Act 3.7% – Hourly earnings Exp 3.9% Act 4.1% – October revised down 45K from 150K to 105K – November revised down […]
Market in Review 1/4/2024
MARKET REPORT Review: – Morgan Stanely go Dollar neutral (from Bullish). Call for EUR down and YEN up (Short Eur/Yen) – Strong EZ PMI revisions – BTC/ETH bounce 4% (shock) – ADP National Employment report saw the headline beat at 164k (exp. 115k) ALTHOUGH wages components saw the median change in annual pay for job […]
Market In Review 1/3/2024
MARKET REPORT Review: – The FOMC Minutes were less dovish than the market (and Powell) suggested and March rate-cut odds faded modestly – 2024’s rout in stocks and bonds is the biggest global rout to start the year since 1999 – US Debt hits 34Trillion. Fist time ever. Context: 2010 it was 12T – Bitcoin (and ETH) […]
