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Market Brief – Friday 3/5/21

Stocks rose in overnight trading but the enthusiasm quickly turned into selling as stocks were melting down in early trading. Treasury yields rose slightly in overnight trading as computer models interpreted today’s Nonfarm payroll report to be inflationary but buyers were eager to take advantage of the dip. Yields were flat in early trading after … Read more

Market Brief – Thursday 3/4/21

Stocks were down slightly in overnight trading and up slightly in early trading. Treasury yields were flat in overnight trading and down slightly in early trading as the bond market awaits Fed Chair Powell’s speech this morning. Initial jobless claims rose last week as +748,078 Americans filed for unemployment benefits bringing the 4-week moving average … Read more

Market Brief – Wednesday 3/3/21

Stocks were flat in overnight trading and slowly falling in early trading. Absent any news, global government bond yields were slammed higher again as the biggest exodus of government debt continues. Treasury yields rose in overnight trading and were flat in early trading. Mortgage applications rose +0.5% last week as purchase applications rose +1.8% and … Read more

Market Brief – Tuesday 3/2/21

Stocks were flat while Treasury yields rose in overnight trading as once again, sellers continue to dump bonds in the thinly-traded overnight futures market. Stocks were down and yields were flat in early trading. Redbook same-store weekly brick-and-mortar retail sales fell -0.3% last month and rose +4.6% from this time last year. Stocks closed lower … Read more

Market Brief – Monday 3/1/21

Stocks rallied in overnight trading on news Democrats will be dropping their push for a $15 minimum wage. After an impressive late-day rally on Friday, Treasury yields were slammed back up in overnight trading as investors attempt to find out if Thursday’s and Friday’s buyers are holders. Stocks and Treasury yields were both up in … Read more

Market Brief – Friday 2/26/21

Stocks fell in overnight trading but were met with eager buyers shortly after the markets opened who briefly brought stocks back up before the selling resumed. Treasury yields fell in overnight trading but sellers remained vigilant as they tried to push back on yields in early trading without much success. Personal Consumption Expenditure prices rose … Read more

Market Brief – Thursday 2/25/21

Stocks fell in overnight trading as Treasury yields rose again. Sellers continue to dominate the thinly traded overnight Treasury futures market while central bankers sit idly by and do nothing. While the market thinks higher yields are a sign of inflation, they actually threaten to destroy this fragile economic recovery. Initial claims slowed last week … Read more

Market Brief – Wednesday 2/24/21

Stocks were flat in overnight trading but investors were eager to buy after yesterday’s countertrend rally which sent stocks higher in early trading. Treasury yields were the big story of the night as speculative sellers continue to dump bonds in the overnight futures market as well as foreign government bonds. Bond buyers were eagerly buying … Read more

Market Brief – Tuesday 2/23/21

Stocks fell in overnight trading and after hearing the rallying cry to buy the dip, investors aggressively bought stocks which reversed much of the overnight decline in early trading. Treasury yields rose in overnight trading again but ran into heavy overhead resistance where buyers arrived in an attempt to stop the selling. Redbook same-store brick-and-mortar … Read more

Market Brief – Monday 2/22/21

Stocks fell in overnight trading as rising Treasury yields are threatening to end the bull market in stocks. Stocks were flat in early trading as buyers were unable to gain any traction against the sellers. The long end of the Treasury curve rose in overnight trading but managed to open flat as buyers returned to … Read more