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Markets:Gold down $1.60 to $1913WTI crude oil down $1.66 to $82.73US 10-year yields up 9.5 bps to S&P 500 up 1 point to 4469EUR leads, JPY lagsIt was a tough one to make sense of.The US CPI report was lower than anticipated and the kneejerk was exactly what you...

US major indices gave up most of their gains and closed near(er) the lows for the day. There was a spike at the open on the back of the CPI data, but rates started to move higher with the 2-year now up 4.6 basis points, the 10-year up 9.9 basis points, and the 30-year...

Today has certainly been a volatile day in the foreign exchange market but when you zoom out, not much has changed. The dollar is basically flat on the day with one single exception:USDJPY dailyThe yen is the only real mover today, perhaps with some GBP weakness as...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

WTI crude oil dailyWTI crude oil is threatening an outside bearish reversal after touching a fresh 9-month high and then slumping below yesterday's low of $82.67.So far, it's back above that level but it may be a close call by the time of the end of electronic...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

Bill Ackman no doubt cheered on the result of today's 30-year auction. He advertised a bond bearish bet last week and price action hasn't been great for him so far.That might have changed with weak demand at a $23 billion sale of 30s at an auction today. It tailed by...

Highest yield of the cycle (beats Nov 2022 at 4.08%)Bit to cover at 2.42 vs 2.43 priorThe 1.4 basis point tail is not a good sign for the fixed income market. I thought the 4% handle might pull in bids but the history of tails at new issues was too much to...

Cable has been under steady pressure after briefly jumping on a moderation in US consumer prices. The pound touched a high of 1.2818 immediately after the release but has since fallen to 1.2713.gbpusd 10 minsThe drop in cable in indicative of market moves elsewhere....

The FX market was ahead of the stock market today as enthusiasm quickly waned following the CPI report. That speaks to the caution that's seeped into the market this month.The S&P 500 is now up just 15 points to 4500 after rising to 4544 at the highs of the day...

The bond market may have sniffed out a cooler CPI ahead of today's release. The reaction post-data has been uninspiring with US 30s trading at 4.20%, up 2.1 bps on the day following a week of steady declines.US 30 year yields dailyackman The next move will be driven...

> US Cleveland Fed July CPI +0.2% vs +0.4% prior The nowcast from the Cleveland Fed on CPI <!--> Adam Button Thursday, 10/08/2023 | 15:05 GMT-0 10/08/2023 | 15:05 GMT-0 --> <!--> August Core PCE nowcast +0.35% ADVERTISEMENT - CONTINUE READING BELOW...

The S&P 500 is at the highs of the week as it extends today's gain to 52 points, or 1.2%.Consumer discretionary stocks and Chinese stocks are doing particularly well. Some of that is being driven by a 7% gain in BABA shares after earnings.Disney shares in the US...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

Redfin today reports that US asking rents rose 0.3% y/y in July. That compares to +13.6% in the year ending July 2022.“While rents are flattening out, it’s too early to say whether rent growth has bottomed,” said Redfin Deputy Chief Economist Taylor Marr in the...

The US CPI report was largely in line with expectations as both the core and headline m/m readings were at +0.2% to match the consenus. However, digging deeper, both were slightly soft at +0.16% and +0.17% unrounded while the year-over-year readings were one-tick...