| saw this before 17 hr ago• Moments ago, the bank renewed its committment to persistently accommodative monetary policy and reinvest maturing bonds from the PEPP program int end of 2023 | A 2nd day of sharp rebound in US treasury yields continues to command the broadening risk-on environment in indices at the expense of JPY and USD |
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| Cryptos: Sell on EidUlFitr, buy EidAdha |
The pattern in markets is growing increasingly clear and tougher to separate from covid worries.
22| Risk went from aversion on Friday to the sharpest decline in over 9 months amid surging worries that the Delta virus variant may not be sufficiently contained by the ongoing vaccines, especially as countries look to further re-open their economies | US existing home sales and initial jobless claims are due up next along with the ECB |
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| The major indexes showed losses of more than 2 percent, including the Dow Jones industrial average, which shed about 250 points and dropped to its lowest level in more than a year | Yesterday, Ashraf shared with WhatsApp Broadcast Group Members ways to ride the latest risk-on ascent using bond yields |
The below chart shows familiar technical paramters, with yields remaining above their confluence support of 100-DMA and multi-month trend-line, while SPX touched and bounced off its 55-DMA for the 3rd time in two months.
19| Surging geopolitical tensions between the US and China slowed the USD rally see Ashraf's tweet below | |
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