Week in Review 10/30/2020

S & P 500 has worst one-week sell off since March and many global equity markets follow suit. Triggers include pre-election jitters and renewed lockdowns in Europe.

Macro news relatively positive contrary to market sentiment. In the US, initial jobless claims dropped to 751K.

10 Yr Treasuries back to previous week’s levels despite an increase in demand that peaked mid week.

FED Treasury operations maintain expansion but MBS purchases drop.

Not much action in commodities though gold breaks lower on the week. Oil lightly lower as well.

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