BofA Merrill Lynch notes .... We remain positive on the US 5s30s flattener. Downside targets are seen to 88.8bps, while steepening should not exceed last Wednesday's high of 113.0bps. Below the Feb-09 low at 101.2bps con…
We remain positive on the US 5s30s flattener. Downside targets are seen to 88.8bps, while steepening should not exceed last Wednesday's high of 113.0bps.
Below the Feb-09 low at 101.2bps confirms a resumption of the larger flattening trend. Turning to the S&P500, while we remain bullish ESM5, targeting 2109/2136 resistance, and have no interest in fighting the tape, we are concerned about near term seasonality and the VXV/VIX ratio.
At this stage seasonality and the VXV/VIX ratio are only concerns. Indeed, trouble doesn't start until we see a break of 2074.00, while a break of 2052.25 is needed to invalidate the small head-and-shoulders base that is currently driving the market higher. Bears don't gain control until we break 2029.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
