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US stocks rally as banking sector fears ease, USD and Gold down, Yields up

US markets rose modestly in Mondays session on a more positive tone in the banking sector following on from the UBS – Swiss government bail out of Credit Suisse over the weekend and hopes US banking regulators would backstop deposits to restore confidence in US mid-sized banks. We saw green across all major indexes, the NASDQ being the lagged ...

March 21, 2023
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The week ahead – SNB, Federal Reserve and BoE rate decisions

US and European markets dropped steeply on Friday as investors remained shaken by the fallout of bank collapses in the US and the issues at Credit Suisse ahead of a pivotal week in Central Bank policy meetings. Over weekend a SNB brokered deal a deal was announced that UBS will buy rival Credit Suisse for 3 billion Francs and agreed to assum...

March 20, 2023
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Bank bailouts see markets bounce, ECB surprises with big hike

Thursdays US session was  risk on led by global banking support after SNB gave a lifeline to Credit Suisse while 11 large US banks stepped up to help First Republic (FRC). In spite of the backdrop of recent bank turmoil the ECB hiked 50bp surprising the market that had priced in a 25bp hike. Even though the size was larger than expected (though...

March 17, 2023
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Stocks and Oil hammered, Gold and Bonds rally on Credit Suisse woes

US indexes finished in the red today with the exception of the Nasdaq which eked out a small gain as banking fears spread to Europe. Shares of Credit Suisse plunged to all time lows on fears of the banks financial position and after a top investor in the form of the Saudi National Bank ruled out any further financial help for the bank. US Stocks...

March 16, 2023
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US equities whipsaw on CPI, S&P downgrade – Oil and BTC at critical levels

We had roller coaster of a ride on US markets in Tuesdays session, US markets initially moved higher on a CPI figure that came in line with expectations taking a little bit of pressure off the fed and no more news of banks going bust. The punchbowl was taken away later in the session though as news of a US drone and Russian jet colliding paired ...

March 15, 2023
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US Equities mixed, Bonds and gold fly on SVB contagion fears

Well, that was an interesting session.. US futures opened flat on Monday, before news of a Federal bailout of SVB depositors saw index futures soar, the Dow up over 400 points early in the session. This didn't last however as contagion fears saw stock sell off over the session, with only the Nasdaq able to hold onto a gain, which is not surpr...

March 14, 2023
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Hawkish Powell slams Stocks, Gold and Oil, USD takes off

Jerome Powell, testifying in front of Congress early in the US session, dashed the bulls hopes of a Fed pivot anytime soon after hinting that larger than expected hikes are a possibility and rates could stay higher and longer than the market was pricing in. This saw an instant reaction in risk assets as the markets priced in a terminal Fed rate ...

March 8, 2023
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US stocks lift off after Bostic comments, EU sees record inflation print driving bond yields higher

A strong US labour market figure , unemployment claims dropped to 190k when 196k was expected, in combination with a record high Core CPI figure out of Europe saw the US equity session get off to a rocky start as bond yields soared. That all changed later in the session as a Bloomberg headline hit with comments from Fed member Bostic. Whi...

March 3, 2023
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US Stocks Mixed in Choppy Session Driven by Data and Fed Speakers

US stock indexes went on a rollercoaster ride in their Wednesday session after weaker then expected US ISM and Manufacturing PMI figures were offset by prices paid showing a return to expansionary territory adding to inflationary concerns after the string of hot January prints. Adding to the mix was Hawkish rhetoric from voting Fed member Kashkari ...

March 2, 2023
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Surprising PMI data for the UK

The Purchasing Managers Index (PMI) is a leading indicator of economic health where an expansion of the industry is indicated by a data release above 50, while a release below 50 indicates a contraction. On Tuesday, the Flash Manufacturing PMI was released at 49.2 (Forecast: 47.5) and the Flash Services PMI was released at 53.3 (Forecast: 49.2) for...

February 23, 2023
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Hot PMI Data Sees Dow Turn Negative For The Year As Stocks And Bonds Tumble

US Flash Services and Manufacturing PMI’s came out better than expected , showing the US economy remains resilient in the face of raising interest rates. The January narrative of a Fed pivot on fears of an economic slowdown has flipped 180 degrees in February as persistently strong figures have traders repricing markets for “higher for longer...

February 22, 2023
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Hot PPI and Hawkish Fed Speak Hit Stocks, Gives USD a Boost

A hotter than expected PPI figure combined with hawkish statements from Fed members and a fall in jobless claims saw risk assets take a hit in Thursdays US session. Headline PPI came in at an increase of 0.7% month on month (0.4% expected) while a drop in unemployment claims showed how resilient the US economy is despite the Feds recent tighteni...

February 17, 2023
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US stocks rally on light news day ahead of CPI figures

US stocks gained throughout the session as they turned risk on ahead of Tuesday’s CPI figure which is expected to show a moderating of inflation causing investors to hope of a less aggressive Federal Reserve going forward. Tech led gains as the sector most sensitive to market sentiment, the Nasdaq finishing up 1.48% with the Dow and S&P 500 n...

February 14, 2023
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Navigating the US CPI data release

The Federal Reserve's latest decision to hike rates by 25bps, taking the US Federal Funds Rate to 4.75%, saw the DXY trade lower from the 101.70 price level, down to a low of 100.82. This move lower was primarily due to comments from Fed Chair Powell, indicating that the disinflation process has started and that he expects significant declines in i...

February 14, 2023
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“Deflationary process has begun” as Federal Reserve increase Funds rate by 25 bps

The US equities market has had a sharp rise to end the trading session as the Federal Reserve announced a 25-bps interest rate rise. Whilst the market had mostly priced in the 25-bps rise, it was the associated commentary that gave the market a boost. Fed Chairman, Jerome Powel made it clear in his statement and press conference that the Fed is ...

February 2, 2023
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