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🙅♀️ EU restricts US travel. Week started with Europe restricting US travelers due to rising #COVID19 delta cases. Travel and other #COVIDRecovery names lower with another roadblock. Over weekend, Sweden went further and imposed US travel ban. 🌳 Growth rotation. #COVIDRecovery weakness saw rotation into Growth names. In particular, Tech 💻 and Communications 📡 were strong. Overall Growth outperformed Value by almost +2%. Read More
😅 Decelerating COVID. Domestic #COVID19 delta surge seems to be flattening. Investor optimism rising as fears of further restrictions or lockdowns hampering #COVIDRecovery ease. Hopes bolstered with FDA approving Pfizer vaccine as well. 💸 Powell backs EOY tapering. Fed Chair Powell supports tapering Fed purchases this year. Given all-time market highs, investors expected Fed support pullback, but were encouraged as Powell Read More
📉 Markets sink on Fed tapering. Markets dropped in power hour Wed as Fed commentary indicated purchase tapering by end of year. Investors mostly shook off macro uncertainty in Afghanistan and ever increasing #COVID19, but Fed minutes tipped the scales. 🌊. 4th wave rising. #COVID19 cases and hospitalizations approaching 3rd wave levels. (Deaths still lower, but also lagging indicator.) #COVIDRecovery trajectory Read More
💪 More strong economic data. Despite rising case, #COVIDRecovery still strong as 12-month consumer price index grew 5.4% again in July. #InflationFears tug ‘o war with another high inflation month, but, at the same time, not accelerating. ️💸 Yields keep rising. 10-year treasury yields up another +4% last week, but as much as +9% Thursday before Friday’s -5%. pullback. #RisingYields resurgence Read More
💰Yields rebounding. #RisingYields rebound up +4% rising as more strong economic data may accelerate Fed rate decision. Financials jumped +4% with overall S&P 500 up +1% for week. ✈️ Travel strong? Strong travel bookings boosting #RevengeTravel. However, boost primarily driven by domestic as international, corporate and big city travel still muted. 🇨🇳 ‘Spiritual Opium’. More #ChinaTension as state run publication calls online Read More
🇨🇳 China crackdown. #ChinaTension rising as Washington relationship referred to as ‘dead end’. China cracking down particularly on Tech making investors extremely nervous. Pending M&A deal approvals likely to face higher scrutiny as well. 📱 Weak Big Tech earnings. #BigTech and growth names largely lower following weaker #earnings last week. Growth down over -1% while overall S&P 500 only slightly lower. Read More
⛈ Stormy Monday. Perfect storm Monday with #CyberSecurity hack, rising #ChinaTension and ongoing #COVID19 delta surge. S&P 500 fell -2% while 10-year treasury yields plummeted -8% to start week. 🤗 Green recovery Market fear didn’t last as S&P 500 rallied +4% to finish week up +2%. Market sentiment got a boost from strong #earnings alleviating stalling #COVIDRecovery concerns. 🌳 Strong growth rotation. Growth won Read More
😷 Domestic COVID is back. After months of steadily declines, 🇺🇸 #COVID19 rising across cases, hospitalizations and deaths. Not 4th wave yet, but some counties already reimposing mask mandates. While primarily in unvaccinated areas, investors still spooked by stalling #COVIDRecovery. 💸 Is inflation really transient? Fed chair Powell reiterated transient inflation expectations after June’s 12-month CPI rose to +5.4%. #InflationFears getting louder Read More
🤷♂️ What market uncertainty? Investors largely shook off #InflationFears and #COVID19 resurgence sending S&P 500 for another green week. Growth rotation continues to lead market up. 🧐 Banks slide on falling yields. 10-year treasury yields slipped -10% through Thursday before rebounding +5% Friday. Bond investors likely buying up treasuries as macro uncertainty rising. Banks 🏦 dip along with rates. 🦠 Domestic cases rising Read More
😁 Tech is winning. Another strong market week－S&P 500 up almost +2% with Growth leading up +3%. Growth rotation led by positive M&A deal traction and antitrust case wins for #BigTech. 😺 Banks pounce on lifted restrictions. Not wasting time, banks 🏦 boosted shareholder return programs with restrictions expiring in June. Investors cheered strong boosts like Morgan Stanley (doubling payout) and Read More