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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

Market Brief – Friday 2/19/21

Stocks rallied in overnight trading but immediately found sellers at the opening bell. Sellers dominated the bond market in overnight trading which sent Treasury yields above their recent highs. Waiting at the opening bell were bond buyers who were immediately met with more sellers. Stocks and Treasury yields were higher in early trading. The preliminary … Read more

Market Brief – Thursday 2/18/21

Stocks fell in overnight trading while Treasury yields were slammed right back up to their recent highs. Investors eagerly bought the dip in stocks as they’ve been programmed to do but despite the effort, stocks are slightly below their opening bell price in early trading. After moving higher at open, Treasury yields made a hard … Read more

Market Brief – Wednesday 2/17/21

Stocks fell slightly in overnight trading and were holding their overnight dip in early trading. Treasury yields fell in overnight trading and were also holding their overnight decline in early trading. Mortgage applications fell by -5.1% last week as purchase applications fell -6.1% and refinance applications fell -4.2%. The Producer Price Index (PPI) rose +1.3% … Read more

Market Brief – Monday 2/16/21

Stocks rose in overnight trading and the holiday futures open but were unable to hold their overnight gains in early trading as rising interest rates are threatening to end the stock rally. Global government bond yields rose in overnight trading as long-term Treasury yields rose while short-term Treasury yields stayed put. Yields were extending their … Read more

Market Brief – Friday 2/12/21

Stocks slipped in overnight trading while Treasury yields were down slightly until early morning sellers arrived to slam yields higher with 30-year Treasury yields retesting overhead resistance as they approached 2%. Stocks were up slightly in early trading while Treasury yields were down slightly from their overnight highs. The preliminary University of Michigan Consumer Confidence … Read more