Market in Review 3/15/2024
MARKET REPORT
Review:
– BoJ mouthpiece confirms historic end to negative rates next week, first hike in 17yrs
– Strong RENGO wage data
Market in Review 3/14/2024
MARKET REPORT
Review:
– US PPI rises most since August. Exp +0.3% Act +0.6%
– Energy and food primary drivers
– Core rate (Ex Food and Energy) Exp +0.2% Act +0.3% ALTHOUGH Prev +0.5%
– YoY +1.6% from Jan +0.9% surpassing Exp +1.1%
– US Retail Sales Exp +0.8% Act +0.6%
– Jan upwardly revised (ie lower) to -1.1% fall
– IE STRONGER THAN EXP PRODUCER PRICES AND WEAKER SPENDING
– US Jobless Exp -218k Act -209k
– Atlanta Fed GDP Now cut
Market in Review 3/13/2024
MARKET REPORT
Review:
– Traders waiting on PPI and Retail Sales data
Market in Review 3/11/2024
MARKET REPORT
Review:
– ALL EYES ON TOM CPI! (June cut be decided on). Tom CPI to determine if previous uptick was decreasing Infl stalled or temp fluctuation. Bets for Fed June cut stand at 57%
Market in Review 3/8/2024
MARKET REPORT
Review:
– NFP Headline beats (275k vs Epc 200K) but Jan and Dec revised sharply lower and Rate ticks up to 2yr high (to 3.9% from 3.7%) plus soft wage figures
– Real Estate and communication services were the best sectors, consumer staples the laggard
– 57% chance priced in of a 25bp cut in June (Fed Funds)
– Dollar pukes on numbers but rebounds over session
Market in Review 3/7/2024
MARKET REPORT
Review:
– HAMAS walk out of hostage talks (after their demands weren’t unilaterally met)
– Sweden officially joins NATO, ending decades of neutrality
Market in Review 3/6/2024
MARKET REPORT
Review:
– Powell sticks to script
– Crypto surges again
– Haley concedes to Trump
– ADP rises, but misses expectations;
– UK Budget as expected;
– NYCB USD 1bln capital raise
Market in Review 3/4/2024
MARKET REPORT
Review:
– BTC to the moon. FOMO or Retracement?
– Fed’s Bostic does not expect rate cuts to be “back-to-back”
– AAPL faces EUR 1.8bln fine
– EQT to cut gas production
– SMCI joining S&P 500
– US Primary “Super Tuesday”
– Trump Supreme court win
– Haiti collapses. World is stunned.
– Yellow stuff soars
– Equities down, Treasuries down, Crude down, Dollar flat.
Market in Review 2/29/2024
MARKET REPORT
Review:
– Another record day of BTC ETF inflows
– Bridgewater Dalio calls Mag 7 ‘a bit frothy’
– Cocoa sees biggest monthly gain in 22 years.
– M/E Tensions rise on Israel/Gaza food stampede deaths
– Core PCE prices +0.4% from Jan, sharpest rise in 1yr. Concerns slowing Disinflation.
– Unemployment claims highest in 3 months, points to some labour softening.
– Surprise Chicago PMI fall
– Soft Pending home sales
– Hawkish BoJ commentary
– Mixed EZ inflation figures
– Fed speakers stick to the script
– AI stocks soaring (SoundHoud, AMD, NVIDIA, Broadcom)
– Dollar, Gold, Equities up, Treasuries down
– BTC up but dumps in afternoon
Market in Review 2/28/2024
MARKET REPORT
Review:
– BTC Surge to $64k record ETF volumes, then Flash-crash/Coinbase exchange users show 0$ Bal
– Mitch Mconnell will step down as Senate Rep leader in Nov
– PCE deflator, sales, PCE and core PCE revised up
– US Q4 GDP revised lower
– Soft Aussie CPI
– Dovish RBNZ hold
– AAPL CEO Cook says it will “break new ground” in generative AI this year
– Berkshire Hathaway increases cash reserves by $60B last 15mnths to $168B (suggesting recession?)
BA Nears 1 Trill Market Cap
– Dimon says AI is not ‘bubble/hype”
– Treasuries up, Dollar/Gold/Crude flat, Equities off small