fbpx

Market Brief – Tuesday 5/11/21

Stocks fell hard in overnight trading as liquidity disappeared but dip buyers were unfazed as investors were attempting to chase stock prices higher in early trading. Treasury yields rose in overnight trading and rose further in early trading before buyers arrived. Redbook same-store weekly brick-and-mortar retail sales rose +13.3% from this time last year. The … Read more

Market Brief – Monday 5/10/21

Stocks were mixed in overnight trading and remained mixed in early trading. Treasury yields rose in overnight trading with 30-year Treasury yields bumping up against 2.3% where they found stiff resistance before declining into the opening bell. Yields were once again sold back up in early trading as investors sellers were trying to break 2.3% … Read more

The Bond Market Knew

Bond prices bottomed in March, one month after the ISM Manufacturing PMI Prices Paid subcomponent peaked in February, consistent with the historical trend of bond prices bottoming within three months of the Price Paid subcomponent peaking. Yet, in April, the Prices Paid subcomponent skyrocketed higher to 89.6, the third-highest point since the mid-1970s. The bond … Read more

Market Brief – Friday 5/7/21

Stocks rose and yields fell ahead of today’s Nonfarm payroll report, where stocks initially fell as yields crashed. In a bizarre response, stocks rallied and yields rose as investors viewed a dismal employment report to be bullish for risk assets. Stocks and yields were up in early trading. The April Nonfarm payroll report completely missed … Read more

Market Brief – Thursday 5/6/21

Stocks were flat in overnight trading and were up a bit in early trading. Treasury yields rose in overnight trading but in an unusual twist of events, buyers were lined up at the opening bell. Yields fell in early trading. Initial claims hit their lowest level since the pandemic as +498k Americans filed for unemployment … Read more

Market Brief – Wednesday 5/5/21

Stocks recovered some of yesterday’s losses in overnight trading, fell at the opening bell, and were struggling to reclaim their overnight gains in early trading. Treasury yields rose in overnight trading and were down slightly in early trading as buyers continue to put support under Treasury bond prices. Mortgage applications fell -0.9% as purchase applications … Read more

Market Brief – Tuesday 5/4/21

Stocks and Treasury yields fell in overnight trading. Stocks extended their overnight decline in early trading while sellers were fighting to push yields back from their overnight decline. Exports rose $200.03 billion and imports rose $274.48 billion in April, which drove the trade deficit to a new low of -74.40 billion. Redbook same-store weekly brick-and-mortar … Read more

Market Brief – Monday 5/3/21

Stocks rose in overnight trading but were fading their overnight ramp in early traded. Treasury yields were flat in overnight trading, then fell in early trading before sellers arrived to push yields back up. The Markit Manufacturing PMI expanded at a slightly slower rate in April as the diffusion index fell to 60.5 from 60.6 … Read more

Market Brief – Friday 4/30/21

Stocks fell in overnight trading but investors were lined up at the opening bell as they have been trained to buy every overnight dip. The buying quickly turned into more selling in early trading as the Dallas Fed President stated we need a rate hike in 2022. Treasury yields were flat in overnight trading and … Read more

Market Brief – Thursday 4/29/21

Stocks rallied in overnight trading on President Biden’s tax-and-spend stimulus plan but stocks were struggling to hold their overnight enthusiasm in early trading. Treasury yields rose on the same new and were battered higher in pre-market trading but were slowly fading their overnight ramp in early trading. Initial unemployment claims fell slightly to +553k and … Read more