On February 19th, 2020, the S&P 500 hit an all-time high of 3,386.15. Thirty-three days later, on March 23, the S&P 500 closed at 2,232.40, a 34% collapse. Between February and April, 5.3 trillion dollars of the S&P 500’s market cap was wiped out from Covid-19 Pandemic. Fast forward to the end of May, where … Read more
Down week for most equity indices with S & P 500 testing the 3000 level again. US Initial Claims still hovering around 1.5 million for the third week in a row. 10 Yr Treasury yield drops back down as demand rises again. FED Broad Dollar Index continues to indicate a strengthening dollar, even while M2 … Read more
S & P 500 opened Monday on a bullish note but stayed tight for the rest of the week. Similar story across global equity markets. US initial claims at 1.5 million again, marking first week since the start of April where we did not have a decline. Total unemployment at about 46 million. 10 Yr … Read more
S & P 500 saw a pretty dramatic reversal on Thursday, though it bounced off the 3000 price level Friday. Similar story across global equity indices. US CPI flattened out in May, potentially marking an end to deflation concerns. US Initial Claims at 1.5 million, bringing total unemployed to 44 million even as reopening continues. … Read more
Stock markets continue to rally globally as coordinated expansionary monetary and fiscal policy continue to prove effective in combating the pandemic’s demand collapse. In the US, the S&P 500 closed Friday at 3,193 (down just 1.14% YTD) and the Nasdaq hit an intraday record high, shaking off nationwide civil rights protests that have occurred in … Read more
SP500 finishes in an upbeat mood, closing above 3000 on Friday. Global equities see similar gains, though many finished Friday with a selloff. We are still seeing over 2 million new unemployment claims over the week. Drastic unemployment jump is now reflecting in all covered countries. 10 Yr Treasury Benchmarks remain stable over the week, … Read more
Generally speaking, it was a quiet week leading up to the long weekend. SP500 stayed in a tight range. US CPI drops significantly on lower demand. Initial jobless claim continues to lower, though this masks the over 23 million unemployed Americans. FED swap lines taper. Bundesbank 10 yr benchmark rate rises on the country’s reopening … Read more
SP500 ends week lower despite positive days on Thursday and Friday. US officials have pledged additional stimulus in the face of continuing macroeconomic deterioration. 10 yr Treasuries remain constrained, as does the broad Dollar Index. Fed Fund rate remains near zero. Stimulus costs are starting to materialize in data. US housing sector indicators reflect decline … Read more
Headline of week, highest level of unemployment in US since Post-war Era. However, SP500 gains back losses from previous week. US money supply confirmed to be increasing steadily since mid-March. FED seems successful at satisfying crisis dollar demand up to now. FED repo purchases back on on upswing. Commodities improve across the board, including oil.
SP500 ends week on selloff after US GDP officially confirmed that have contracted Q1 2020. Initial jobless claims at 3.8 million, and ISM PMI confirms drastic change in manufacturing levels. Housing starts and new building permits paint grim picture for the US housing market as well. FED continues expanding CB swap line programs as dollar … Read more