Markets:Gold down $4 to $2562US 10-year yeilds up 2 bps to 4.44%WTI crude oil down $1.71 to $66.99S&P 500 down 1.3%JPY leads, GBP lagsThere wasn't a tidy narrative on Friday as trading started out with a 'sell everything' mode before bonds made something of a...
US equity close: The shine wears off
The shine of the election has run into uncertainty about tariffs and elevated P/Es. Pretty much all the gains after the open on post-election morning are now gone and the S&P 500 is now threatening the opening gap while the Nasdaq has already taken a decent...
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Bitcoin perks up to finish the week strong
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,...
Fed’s Barkin: I always have expected core PCE to stay in the “high twos”
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Another turn in Treasury yields after another Fed pivot?
US equities are making new lows but bonds have turned around.Ten-year Treasury yields touched the highest since May earlier today at 4.50% but have since turned around and are now down 1.6 bps on the day to 4.40%.US 10s, hourlyThat's a solid rejection but the next...
Fed’s Goolsbee says personally comfortable not ‘charging’ towards neutral
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No comments on monetary policy from the Fed’s Williams
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USD/JPY continues retracement, now down 200 pips
Until today, USD/JPY had rallied every day this week in impressive fashion.However after some tough talk from the finance minister today, there is some heavy selling. The pair is now down 201 pips to 154.23 as it's now cut through Wednesday's low.USD/JPY daily chartI...
Oil falls again. Here’s the problem with OPEC
Here is the problem with OPEC -- they're too optimistic about demand.At this time last year, they forecast world oil demand would rise to 104.36 million barrels per day this year. It was in stark contrast to the IEA at 102.78 mbpd and EIA at 102.34 mbpd.Skip ahead to...
Atlanta Fed Q4 GDPNow 2.5%
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The battle for Trump’s Treasury Secretary continues as Kudlow cited
KudlowA Wall Street Journal report says Trump is tiring of a “cold war” between Howard Lutnick and Scott Bessent for the job as Treasury Secretary and is now looking at others.One is TV personality Larry Kudlow, who was director of the National Economic Council for...
European equity close: Unable to maintain yesterday’s momentum
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US dollar bids reverse course
The US dollar is under some broadening pressure. It could be an unwind of fixing flows but it's something worth watching, particularly as Treasury yields come back down. Here is a look at AUD/USD, which at times has been a forerunner of risk appetite.AUD/USD 5 minsThe...
BOC senior loan officer survey: 1.71% vs 6.85% prior
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Fed’s Collins: Won’t take a December easing off the table, doesn’t see big urgency
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ECB’s Cipollone: We can and should reduce the level of monetary policy restriction
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Putin told Scholz peace agreement should proceed from new territorial realities
AI imageA report today showed that Russia cut off natural gas exports to Austria and European gas prices spiked. There could be some arm twisting there aimed to get Europe on board with an end to the war.Putin talked with Scholz today and reports say the Russian...
Not a good day for stocks, bonds or commodities
It's a tough day to make money.The S&P 500 is down 55 points, or 1.0% and trading near a session low. It's a continuation of the selloff that started yesterday on a less-dovish Powell. The market is now pricing just a 57% chance of a December cut, down from 85% at...
US September business inventories +0.1% vs +0.2% expected
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