Market Insight June 20, 2021

Weekly Commentary & Strategy

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 and ended in the south direction. Jobless claims data were a bit noisy, with a decent rise in initial fillings, but steady continuing claims versus an expected decline. However, what shook the market was Federal Reserve whose meeting was in the spotlight due awaited
comments on the future shift in monetary policy. This meeting was particularly important on the heel of recent inflation which rose at its fastest pace in 20 years, according to Bloomberg data….