Philly Fed beat, jobless claims beat, PMIs beat… but with soaring prices, Leading Indicators beat, and existing home sales beat… all good news…
Source: Bloomberg
That good news reduced expectations for rate-cuts in 2024…
Source: Bloomberg
Stocks extended yesterday’s gains on the good news… but Nasdaq was hit during the day on the heels of the AAPL news…
AAPL was clubbed like a baby seal on the regulatory crackdown…
Treasuries were mixed with the short-end lagging after yesterday’s outperformance, (2Y +4bps, 30Y -1bps) with only the long-end still higher in yield on the week…
Source: Bloomberg
The dollar rebounded, retracing almost all of yesterday’s losses…
Source: Bloomberg
Another net outflow (3rd in a row) from BTC ETFs yesterday…
Source: Bloomberg
…and the crypto-currency was sold today…
Source: Bloomberg
Oil prices dipped for a second day – despite bond yields higher and growth being positive…
Source: Bloomberg
Gold retraced much of yesterday’s spike gains…
Source: Bloomberg
Finally, which comes first: Nasdaq 17,000 or 10Y 4.0%…
Source: Bloomberg
…before or after the election?
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