Market Brief – Friday 5/29/20

Today’s disappointing economic data sent stocks and Treasury yields lower in early trading. Fed Chair Powell spoke this morning and reiterated the Fed doesn’t believe negative rates are an appropriate policy tool. The market disagreed and immediately priced in negative rates by June 2021. Investors remain on edge ahead of President Trump’s press conference on … Read more

Market Brief – Wednesday 5/27/20

After rising in overnight trading again, stocks and Treasury yields fell in early trading with Treasury yields leading the move down. Crude oil continues to trade around $33 per barrel. Mortgage applications rose +2.7% from last week with purchase applications rising +8.6% and refinance applications falling -0.2%. Redbook same-store weekly retail sales fell -1.5% from … Read more

Market Brief – Tuesday 5/26/20

U.S. equity futures surged in thinly traded volumes on Monday and Tuesday nights as stock prices are behaving as if there will be no lasting economic damage from the Coronavirus shutdown. Treasury yields were slammed higher in pre-market trading, with 30-year Treasury yields once again holding overhead resistance just over 1.4%. The Chicago Fed National … Read more

Market Brief – Thursday 5/21/20

Stocks were flat in overnight trading even as preliminary factory surveys from the Eurozone showed further contraction and no sign of a “V” shaped recovery. After the U.S. economic data this morning, stocks headed lower. Treasury yields also fell in overnight trading and continued falling in early trading. Initial jobless claims missed expectations by coming … Read more

Market Brief – Tuesday 5/19/20

Stocks traded slightly higher in early trading while Treasury yields were slowly following. Treasury Secretary Mnuchin and Fed Chair Powell testified to Congress today about the CARES Act, which had investors hoping Powell would provide forward guidance on monetary policy. Powell did indicate the Fed will likely be providing more liquidity in the future. Housing … Read more