NFPs positioning was right
|S&P 500 and Nasdaq lifted up following the great data (deferring rate cut prospects further away, no Jul absolutely, making the late yesterday discussed with clients the three key indices‘ relative performance takeaway the correct one – check out today‘s video for more than visual depiction and commentary covering real asset clues too, clients gor it through Telegram premium channels and email update..
Treasuries are going to decline – there is no reason to cut rates given the good NFPs (I was clear after ADP employment change that it‘s better be taken with a pinch of salt as the headline figure is no verbatim copy thereof), and unemployment data today are also favorable, so there‘s more of high beta chase ahead, and USD to move somewhat up, which is fully appropriate today.
Happy 4th of July, new analysis coming up on the weekend earliest.
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