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VIX is still low which means our expected range of movement for the SPX and SPY are still quite narrow between open and close. Going into OpEx with ever swing slightly higher, we’re seeing more selling at the 4150 across
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Good Afternoon Friends. Just a gentle reminder today we kicked off QT, and this morning we saw a lot of weakness in the market, but following the positive ISM data that came out we saw how quickly the market turned.
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Macro Update: Food riots are starting, Sri Lanka is already facing serious unrest, Pakistan and Iran are looking to be next. Instability in Iran would compound the energy supply issues we’re already facing. Commodities deals are bypassing the US Dollar,
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Macro Beardown Breakdown. India (the second largest wheat producer) has put a ban in wheat exports. China has also banned the export of fertilizers; following the sanctions of Belarus and Russia, and this is essentially limiting the global supply of
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Good Morning Friends, Macro Minutes… Friday we saw a bit of a relief rally after VIX started to roll off the 30s into the high 20s, and remember VIX expiration is Wednesday and then we have options monthly expiration this
Read moreGood Morning Friends! Remember how I was telling you back in the Day (probably last week) that as credit spreads widen the greatest pressure will be felt by banks that can not borrow money via bonds? Yesterday seven high grade
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This last Week/Weekend was massive and CrayZayZay! (Read with a Comedic Tone…) Russia Oil Embargo what?! (but not Gas, so Germany is spared a total implosion). Shanghai Ports, they still exist, only in our minds’ eye because strictions are getting
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During Quantitative Easing, the Fed put Money into the market by buying an array of treasury bonds/securities/notes/mortgage backed securities, etc. Now every month some securities reach their maturity and historically the Fed has refinanced most of these. With tapering, the
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So with FOMC today, I’m not sure I need to be doing a huge update. BUT, I did want to just point to a few things… Yesterday a number of central banks globally increased their rates (everyone except Japan), and
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I’ll put out a longer update later, but remember this week on May 4th Ka-Powell has a press conference, and on the 5th we have Jobless claims and non-farm productivity comes out, and Friday the 6th NY Fed, ATL Fed,
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