Philly Fed beat, jobless claims beat, PMIs beat... but with soaring prices, Leading Indicators beat, and existing home sales beat... all good news...
Source: Bloomberg
That good news reduced expectations for rate-cuts in 2024...
Source: Bloomberg
Stocks extended yesterday's gains on the good news... but Nasdaq was hit during the day on the heels of the AAPL news...
AAPL was clubbed like a baby seal on the regulatory crackdown...
Treasuries were mixed with the short-end lagging after yesterday's outperformance, (2Y +4bps, 30Y -1bps) with only the long-end still higher in yield on the week...
Source: Bloomberg
The dollar rebounded, retracing almost all of yesterday's losses...
Source: Bloomberg
Another net outflow (3rd in a row) from BTC ETFs yesterday...
Source: Bloomberg
...and the crypto-currency was sold today...
Source: Bloomberg
Oil prices dipped for a second day - despite bond yields higher and growth being positive...
Source: Bloomberg
Gold retraced much of yesterday's spike gains...
Source: Bloomberg
Finally, which comes first: Nasdaq 17,000 or 10Y 4.0%...
Source: Bloomberg
...before or after the election?
