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Market Brief – Thursday 9/30/21

Stocks rose in overnight trading as investors continue buying the dip hoping stocks will resume their bull market trend. Treasury yields rose slightly in overnight trading as concerns over the debt ceiling weight on the Treasury market. Initial claims rose +362k as the trend of initial claims continues to rise. Total claims, including all forms … Read more

Market Brief – Wednesday 9/29/21

Stocks rose in overnight trading after yesterday’s hammering and were holding their overnight gains in early trading. Treasury yields fell in overnight trading but sellers were pushing them back higher in early trading. Mortgage applications fell -1.1% last week as purchase applications fell -1.2% and refinance applications fell -0.9%. Pending home sales jumped +8.1% in … Read more

Market Brief – Tuesday 9/28/21

Stocks started the day lower and Treasury yields even higher as fears Congress will not raise the debt ceiling in time rattled the markets. Stocks continued to slide in early trading while Treasury yields fell from their opening highs. The trade deficit widened to -87.60 billion in August, retail inventories excluding autos rose +0.6% in … Read more

Market Brief – Monday 9/27/21

Stocks fell and Treasury yields rose in overnight trading as investors buy into the Fed’s ability to hit and maintain their inflation targets. Stocks were flat in early trading while Treasury yields fell in early trading. Durable goods new orders rose +1.8% in August as non-defense aircraft and parts orders rose sharply and slowed to … Read more

Consumer Confidence is Crashing

Consumers as less confident lately and for good reasons. The broad economy is slowing, the pandemic has not ended, and the extended unemployment benefits are gone. What hope they do have is there are nearly eleven million jobs openings according to the government but one in six of those jobs is a low-paying hospitality job. … Read more

Market Brief – Friday 9/24/21

Stocks started the day slightly higher but were struggling in early trading to extend their overnight gains. Global government bonds saw selling in overnight trading sending Treasury yields higher as investors fear central bank balance sheet tapering will lead to higher interest rates. New home sales rose +1.5% or 740k homes in August and -24.3% … Read more

Market Brief – Thursday 9/24/21

Stocks roared out of the gate as it was risk-on in overnight trading which spilled over into early trading. Treasury yields were slammed back to their highs of the last three days where buyers have been holding. Initial claims rose to +351k and total claims, including all forms of Pandemic Unemployment Assistance, fell -856k to … Read more

Market Brief – Wednesday 9/22/21

Stocks rose in overnight trading as investors shrug off fears that China’s real estate market will face a global meltdown. Treasury yields were flat ahead of today’s FOMC press conference where investors believe the Fed will announce a balance sheet taper beginning in November. Mortgage applications rose +4.9% last week as purchase applications rose +2.2% … Read more

Market Brief – Tuesday 9/21/21

It was risk-on in overnight trading as stocks rallied and Treasury yields rose slightly. Stocks gave back their overnight gains in early trading and Treasury yields falling from their overnight move higher. Building permits rose +6.0% in August to 1.728 million permits and housing starts rose +3.9% in August to 1.615 million units. Today’s $24 … Read more

Market Brief – Monday 9/20/21

Stocks and Treasury yields fell in overnight trading as fears of Evergrande’s contagion spreading caused a flight to safety. Stocks continued to slide in early trading while Treasury yields were holding their overnight decline. Stocks and Treasury yields closed lower on the day after a rough day where dip buyers were unable to reverse the … Read more