July 11, 2021

Is it coming Home or going to Rome? With the summer in full swing with European cup, we have closed a remarkable first half of the year. Last week was a volatile holiday-shortened week, and investors experienced a bit of everything from labour market readings to OPEC+ decision and Federal Reserve minutes as well as …

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July 04, 2021

Last week, stock markets were drifting rather than moving with real conviction. The S&P 500 rose for a seventh consecutive weeks, the longest winning streak since August. The second half of the year kicked-off with U.S. job's report in focus to gauge if the economic recovery momentum from the first half will be sustainable in …

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June 27, 2021

Are stocks on steroids or they are playing great music indifferent of what future is holding, just like Titanic? Last week, stocks went on to set a new record high while the long-end U.S. Treasury nominal yield was marginally lower. Our message is “welcome to the topsy-turvy world of the 21st century policy making”, with …

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June 20, 2021

Last week, was certainly not a boring week, as stocks first hit a new record high, then finished the week on a losing stream. On Friday, we had triple witching, i.e. every three months on the third week, with the same loosing pattern amid an extremely tight trading range which led to a compressed market …

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June 13, 2021

As we enter the summer not only the weather is heating up, but also inflation as measured by CPI. Last week, major global indices extended the record and government bond yields collapsed to their three-month low. The consumer price index (CPI) rose 5% from a year ago with the core index, i.e. excluding food and …

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June 06, 2021

Last week, started with a lack of motivation as trading showed no clear direction. Traders' eyes were on Friday's job data, which created random trading with low volume. The Friday job data, as so many investors hoped to provide a new momentum, was not fantastic, but not bad either, in our view. Investors once more …

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May 30, 2021

The month of “Sell in May and go away” is just about to end with a happy ending for risk assets. Thanks to weaker USD and waning global inflation risks. Last week, major global stocks made a comeback as inflation fear subsided. The market focus was on the consumer data with purchases of goods and …

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May 23, 2021

“April showers bring May flowers”, as economy is blooming and corporate profits surging. Last week was an intense week for markets, from tech to crypto, and even for bonds and commodities. The global market finished side-ways, tilted upwards, as it was in tug-of-war between rising inflation concerns and U.S. Federal Reserve monetary policy decision....

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May 16, 2021

Last week, global stocks posted their worst week since February as inflation fear sent shivers through market. The CPI number indicated fast rising inflation with a "wow" effect. Prices rose in areas which have been mostly impacted by the pandemic and now are facing the gradual reopening. On a closer look at the CPI components, …

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May 09, 2021

Last week global stocks finished a volatile week in a winning stream, amid U.S. job data that was below any expectation and hence was a relief for a majority of investors who believes that the U.S. Federal Reserve will not make any change to its stimulus program, soon....

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May 02, 2021

"Sell in May" for trading Fed's path? Market was calm, last week, for most major global indices. Based on just over half of the S&P 500 corporate earnings reports, 87% beat estimates by a historically elevated rate of 24%. Last week's glut economic and corporate data has shown incredible strides in the economic recovery, in …

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April 25, 2021

Last week was the week of swing, as stocks ended where they started. President Biden's tax hike proposal, fears of inflation risk and asset bubble were amongst the catalysts for the market fluctuations. Surging international Covid cases, taking capital gains and splashes of earnings played a role, too. Healthcare and real estate shares led the …

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April 18, 2021

Global stocks, bonds and commodities cheered the better-than-expected economic news, having the S&P 500 passed its sixth advance of the past seven weeks. Investors' one-year inflation expectation soared. The University of Michigan consumer sentiment survey rose to 86.5, just shy of the 89 forecast, which can offer a bit of comfort till end of the …

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April 11, 2021

Last week has been a rather quiet week as the weight shifted towards the prospect for economic recovery. However, major global indices were hovering on their new record high levels. This raises several questions for investors: 1. Where does the fuel for the engine of this bull market come from? 2. Are we close to …

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April 04, 2021

Happy Easter. Good Friday started Easter weekend, as the holiday-shortened week capped off a strong first quarter for equities. The S&P 500 hit above the 4,000-point mark for the first time ever, along with major global indices which all hit fresh new record highs....

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March 28, 2021

Last week global stock market was swinging between the bookend of the past year's steady gain and this year's volatility caused by interest rate fear. Major Global indices logged solid gains so far, having nearly one quarter of 2021 in the books. The stock market rebound over the last 12 months was exceptionally strong, following …

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March 21, 2021

Today, March 21st is the one-year anniversary of the fastest bull-to-bear market, i.e. market bottom, on record. We experienced a lot during the past year, as stocks, commodities, and long-term yields have come a long way thanks to better economic prospects, historical fiscal spending, and broad central bank monetary policy accommodations. The global economy has …

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March 14, 2021

Last week stocks rallied and major global indices touched new record highs, amid progresses in vaccination, fast approaching reopenings, and the $1.9 trillion U.S. fiscal stimulus package as President Biden signed into law on Thursday. The new bill which, in our view, could be the last stimulus check is distributed as follows...:

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March 07, 2021

Last week global stock market continued its wrestling with the interest rate, as the yield rapidly topped 1.6% and stock market sold-off. Investors are clearly divided into two separate camps, with below rationales: 1. Higher interest rates and higher stock prices cannot exist together. 2. Stock sold-off excessively, amid a new direction for the market. …

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February 28, 2021

Both, equities and fixed income finished an unsettled week, as all eyes were on interest rates. Bonds were bleeding across the spectrum and bond volatility spiked to the highest level since April, which eventually spilled over to all asset classes. Yields are marching up from their historical lows, over the last two months, or better …

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