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Archives by Year:
Rate Adjustment Underpins Greenback
Image Source: Pexels Overview: The adjustment to US interest rates continues and this helps underpin the US dollar. The 10-year yield rose to 4.40% yesterday, the highest it has been since last November. It is trading 4.34%-4.38% today. The two-year yield is firm though holding below the Q1 high set last month near 4.75%. This week, for […]
S&P 500 Retreated From All-Time High: Is It Just A Correction?
Does yesterday’s decline in stock prices signal the beginning of a new downtrend?Stocks prices went down on Tuesday as some more pronounced profit-taking action occurred after a relatively flat Monday. The S&P 500 index lost 0.72% yesterday, closing slightly above the 5,200 level. On Friday, it reached a new record high of 5,264.85, and on […]
Hot Data Equals Less Cuts
S&P 500 couldn‘t at least keep sideways on JOLTS coming in line with expectations, offering good intraday shorting without whipsaw. As per yesterday‘s lengthy article on trading and investing success in different asset classes and market environments, now with a lower low S&P 500 made, odds are stocks won‘t find very sound footing today just yet – especially given […]
Credit Stress Is Brewing As Market Complacency Rises
Typically, credit spreads and yields on junk bonds align with credit stress and anticipated stress in the credit markets. Today, however, an aura of complacency reigns over the junk bond market as credit stress for junk-rated companies increases. The top graph, entitled Credit Stress is Building, courtesy of Bloomberg shows that defaults on junk-rated bank […]
ADP Employment Report Shows Wage-Growth Explode Higher In March
Expectations were for a small increase in jobs added MoM in today’s ADP Employment Report, but instead we saw a sizable jump from +155k to +184k jobs added in March – the highest since July…Source: BloombergAlmost all cohorts were positive…Job gains in Services once again dominated Goods-Producing firms, but both saw increases in March…“March was […]
Gold Price Refreshes All-Time Highs Below $2,300 As Geopolitical Tensions Escalate
Image Source: Pixabay Gold price rises further to $2,290 as investors ignore higher bond yields. Fed policymakers see no urgency for rate cuts. Investors await the US ADP Employment Change, Services PMI, and Fed Powell’s speech. Gold price (XAU/USD) falls after refreshing all-time highs near $2,290 in Wednesday’s European session on multiple tailwinds. The near-term […]
Eurozone Inflation Drop Is Encouraging, But Don’t Expect An April Rate Cut
Image Source: Pexels Inflation in the Eurozone came in lower than expected at 2.4% in March, down from 2.6% in February. Core inflation also fell from 3.1 to 2.9%. This better-than-expected reading boosts chances of ECB rate cuts, but don’t expect them to happen this monthAn early Easter usually means a bump in inflation due to […]
Silver Commentary – Wednesday, April 3
Image Source: Pixabay Silver Breaking OutSilver prices are surging higher today with the futures market breaking out to its highest level since March 2022. Dovish comments from Fed’s Mester yesterday helped fuel a more than 6% rally. A rate cut in June is looking increasingly likely and a shift higher in market pricing for that date […]
ADP Jobs Data, March Service PMs, Powell, And The Fed Heads
Image source: Pixabay Following a day off, the pace of March economic data picks back up today with ADP’s March Employment Change Report and back-to-back looks at the March Services PMIs. For ADP’s report out at 8:15 AM ET, the market expects that report to 148,000 jobs were added during the month, up from 140,000 in […]
What Happened To The Alibaba Stock Price?
Alibaba (BABA) stock price is not doing well in 2024 as the company faces a mountain of challenges in China and abroad. It has dropped by almost 6% this year, 26% in the past 12 months, and by 60% in the past 5 years. As a result, it has lagged behind all major indices like […]
