Image Source: PixabayAmid the doldrums of summer liquidity, today saw some give back from Friday’s euphoric response to Jay Powell’s latest flip-flop.Rate-cut expectations declined (most notably focused on a shift from 2024 to 2025)…
Source: BloombergStocks – broadly-speaking – did not love it and gave some back with the Nasdaq the biggest loser (and S&P dragged down by Tech). The Dow managed to reach a new all-time high before purging most of it back.
It’s been an interesting couple of days for Mag7 stocks…
Source: Bloomberg…as the world readies for NVDA’s earnings…
Source: BloombergThe dollar rallied modestly, erasing some of the dovish decline…
Source: BloombergDespite the dollar gains, gold rallied…
Source: BloombergTreasury yields rose modestly (just 1-2bps), but remain down from pre-Friday panic. The short-end continues to outperform…
Source: BloombergOil prices also continued to rebound, with WTI back above $77…
Source: BloombergAfter surging above $65,000 twice over the weekend, Bitcoin was sold (ubiquitously) during the US day session
Source: Bloomberg…and ETH is now at its weakest relative to BTC since the start of the DeFi boom…
Source: BloombergFinally, while the seasonals are holding up for now, the worst period of the year looms (September H2)…
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