Part1: Part2: Part3:
US equities retreated on Thursday after President Trump said he doubts that his trade talks with China would succeed. Large caps lagged small caps: S&P 500 (-0.09%) vs. Russell 2000 (+0.55%). Utilities (-0.90%) and telecommunications (-0.56%) underperformed the broader market …
Here are the market-based measurements we watch most closely on these two issues: 1) Fed Funds Futures past December 2018 Current futures market pricing assumes the Fed will end this year with rates at 2.2%, which in practical terms means …
The yield curve is a decent proxy for the relative future return of long-duration and short-duration bonds. When the yield curve is steep, it makes sense to take the higher volatility-risk of long-duration bonds, as investors are compensated by higher …
US equities rallied on Wednesday amid strong corporate earnings results. Macy’s (+10.83%) exceeded quarterly earnings forecasts and said same-store sales increased by a more than expected 4.2%. Large caps lagged small caps: S&P 500 (+0.41%) vs. Russell 2000 (+1.00%). Materials …
I looked at the recent performance of US large cap Consumer Staples, because it has been simply dreadful. A few stats: YTD: Staples down 12.7% versus +1.8% for the S&P 500 Q2 2018 to-date: -5.6% versus +3.1% for the S&P …
Index Futures Net Changes and Settlements: ContractSettlementNet Change+/-%S&P 500 (ESM18:CME)2723.00+14.00+0.51%DowJones (YMM18:CBT)24,740+80+0.32%Nasdaq 100 (NQM18:CME)6937.25+46.75+0.67%Russell 2000 (RTYM:CME)1619.10+17.30+1.06% Foreign Markets, Fair Value and Volume: In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.48%, Hang Seng -0.54%, Nikkei +0.53% In Europe …
After years of “Will they? Won’t they?” back and forth, on June 1, 234 of China’s domestically-listed A-shares will be included in the MSCI Emerging Markets index. The immediate inflows driven by this move will be small, amounting to roughly …
Index Futures Net Changes and Settlements: ContractSettlementNet Change+/-%S&P 500 (ESM18:CME)2709.00-22.00-0.81%DowJones (YMM18:CBT)24,660-226-0.91%Nasdaq 100 (NQM18:CME)6890.50-83.50-1.21%Russell 2000 (RTYM:CME)1601.80-2.50-0.15% Foreign Markets, Fair Value and Volume: In Asia 7 out of 11 markets closed lower: Shanghai Comp -0.70%, Hang Seng -0.13%, Nikkei -0.44% In Europe …
Japan’s longest run of growth since the 1980s has come to an end. After eight consecutive quarters of growth, data released on Wednesday morning showed that the Japanese economy contracted in the first quarter. For investors, the question is whether …
TODAY’S MARKET RECAP US equities retreated on Tuesday after the 10-year Treasury yield climbed to its highest level since 2011. The 30-year and 10-year Treasury yields rose to 3.197% and 3.070% respectively, while the 2-year yield increased to 2.577%. Large …
The VIX may have climbed to 14.6 today, but it’s still running below this year’s average of 17.2. In fact, before today’s selloff the last 2 VIX closes had a 12-handle, something we hadn’t seen since January. A few points …