← Go back Jul 07, 2023
S&P 500 continued the post-FOMC risk-on turn accompanied by stable to retreating yields until above expectations GDP figure spurred bets on having been achieved, and on more Fed tightening – regardless of the fact that LEIs keep declining still, making it impossible to talk about any landing. It‘s always these times when it appears that economic contraction has been avoided. Disregard the overly optimistic earnings growth expectations as of Q4 2023, or real estate recovery starting to falter. The key event yesterday was – testing the market reaction rather than a trial baloon, it turned out during the Asian session – the intention of BoJ to adjust the „permissible“ yield on Japanes Government Bonds . Yield differentials between Treasuries anf JGBs directly influence the yen carry trade, and exert influence on interest rate sensitive assets from Nasdaq to . The resulting relaxation of the yield curvecontrol in place caused gyrations in Nikkei, USDJPY and Treasuries alike, yet . The dip was being , but I‘m looking for core PCE data to take us back into the tightening focus in bonds that have advanced quite much premarket. Keep enjoying the lively via keeping my tab open at all times (notifications on aren’t enough) – combine with subscribing to my , and of course that (head off to Twitter to talk to me there), but getting the key daily analytics right into your mailbox is the bedrock. So, make sure you‘re signed up for the free newsletter and make use of both Twitter and Telegram – benefit and find out why . Let‘s move right into the charts (all courtesy of ) – today‘s full scale article contains 2 of them. Initial selling attempt, but stocks are unlikely to be thrown off guard during the regular session – on a daily level, the deeply oversold many cyclicals, are to catch a bid, and unless bond yields accelerate their bite (rise) during the regular session, tech isn‘t likely to yield (face rotations out of). 4,585 – 1,592 zone holds the key today, and buyers are more likely to reclaim it than not. Thank you for having read today‘s free analysis, which is a small part of covering all the markets you’re used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates. While at my site, you can subscribe to the for instant publishing notifications and other content useful for making your own trade moves. Turn notifications on, and have my (tweets only) opened in a fresh tab so as not to miss a thing – such as extra intraday opportunities. Thanks for all your support that makes this great ride possible! Thank you,
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