Week in Review 6/19/20

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 Treasuries seem to edge slightly higher on week, and we see the Federal Fund rate increase slightly as well.

Though the data is lagged, we do see that the Dollar has started strengthening against foreign baskets.

US Budget situation improves in April. Similarly, we see a slight rebound in the US housing market.

FED asset purchases drop sharply on the week, most noticeably in Repos and CB Swaps.

We see a tightening on the far end of the US yield curve.

In commodities, OPEC Crude looks to test $40 per barrel range, and metals continue strong recovery. Energy and Agricultural indices are lag in performance.

Gold looking bullish in the last week.

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