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Economic Indicators Released Yesterday
Rate cut expectations drove equities back up again yesterday, after Friday's nasty sell-off. Markets are now (yet again) hoping for 3 rate cuts this year, despite Powell's refusal to consider it.
Tariffs continue to distort economic data points, as if they needed any more distortion.
US Equities
Trump to raise tariffs on India over Russian oil purchases [FT]
Trump to Name New Fed Governor, BLS Head in Coming Days [Bloomberg]
The shooting star is still in charge of price action, but a nice bounce yesterday.
Gold coiling for a push higher. A close above $3,430 would confirm.
USD bounce on the DXY may not be too convincing but for those that need to buy USD, there are many, it's looking like a good time to buy.
The bounce back on the NASDAQ is great but confirming above 21,000 is key.
Confirmed break lower in yields as Friday's numbers/BLS shake up put economic data points in question, and anecdotal evidence of recession comes in focus. Loan delinquencies, CRE, housing stock, BNPL etc etc
US 10 Year Government Bond Yield Daily