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Market Brief – Thursday 10/7/21

Stocks rallied in overnight trading as news of a temporary debt ceiling increase overjoyed global investors. Treasury yields were slammed higher in overnight trading on the same news as investors interpreted this news to be highly reflationary. Initial unemployment claims fell to +326k last week. Total claims, including all forms of Pandemic Unemployment Assistance, fell … Read more

Market Brief – Wednesday 10/6/21

Stocks fell in overnight trading but buyers were lined up at the opening bell ready to buy the dip. Treasury yields also fell in overnight trading and sellers were trying unsuccessfully to push yields higher in early trading. Mortgage applications fell -6.9% last week as purchase applications fell -1.7% and refinance applications fell -9.5%. The … Read more

Market Brief – Tuesday 10/5/21

Stocks shot out of the gate as investors eagerly bought yesterday’s dip and headed higher in early trading. Treasury yields rose slightly in overnight trading before being slammed higher by sellers in early trading. Exports rose slightly from $212.70 billion to $213.70 billion and imports rose from $283.00 billion to $287.00 billion. The trade balance … Read more

Market Brief – Monday 10/4/21

Stocks fell in overnight trading and were sliding in early trading. Treasury yields rose in overnight trading and sellers pushed them further higher in early trading. Factory orders rose +1.2% in August, beating expectations and +15.9% from this time last year. Excluding transportation, factory orders rose +0.5%, and excluding defense, factory orders rose +2.4% in … Read more

Debt Ceiling Fears

Fears over a technical default have sent Treasury yields higher this week as investors and money managers reduce uncertainty from their portfolios. While the United States has never defaulted on its debts and is unlikely to anytime soon, the recent decline in bond prices and rise in Treasury yields indicates the market believes it is … Read more

Market Brief – Friday 10/1/21

Stocks rose in overnight trading and continued higher after a brief dip in early trading. Treasury yields fell in overnight trading but sellers were quick to push yields back higher in early trading. The Personal Consumption Expenditures (PCE) price index rose +0.4% in August and +4.3% from this time last year. Excluding food and energy, … Read more

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