Week in Review 07/30/2021

Global developed equity markets continue softness.

US markets still diverging from the broader trend.

Global staffing agencies following broader market patterns.

Job openings in the US still on strong growth trend, though there was a slowdown in new postings recently.

Real estate continues to be a strong performer amidst equity slowdown as well.

Price inflation in agricultural products threatens again. Commodity metals weaken, but metal processors see continued strength, carrying the sector. Oil approaches $75 a barrel again.

In rates, Fed rates hold steady. 10 Yr Treasuries continue summer reversal. 30 Mortgage rates finding support around 3%. High quality bond yields track Treasuries.

Inflation still seems to have settled for the moment. 5 and 10 yr inflation expectations with TIPs, though BEI expectations hold more firmly at their current levels.

Most equity sectors moving in line. Utilities, Communications, Biotech and Semiconductors diverging a bit, remaining relatively steady.

In crypto, BTC trending up again.

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