The information in this message does not represent any financial or investment advice. They're just random thoughts in my head. gm **MACRO** - Equities ended the day yesterday mostly unchanged, I guess NDQ was about 0.2% higher. Futures this morning are a touch lower and thus we are in full crab mode as markets remain quiet and will continue to do so imo until next Friday's payrolls. The big concern continues to be oil prices where WTI remains elevated above $93/barrel. Consequently, this has once again caused upwards pressure on interest rates which now sees 2Y back up to 5.14% and 10Y at 4.65%. Even if we get soft labour market data next week, which I do think will alleviate interest rates, it feels like we're back to the concerns of H1 2022 when oil started spiralling out of control. It's definitely something to be wary of.
Market Update: Thu 28th Sep
Market Update: Thu 28th Sep
Market Update: Thu 28th Sep
The information in this message does not represent any financial or investment advice. They're just random thoughts in my head. gm **MACRO** - Equities ended the day yesterday mostly unchanged, I guess NDQ was about 0.2% higher. Futures this morning are a touch lower and thus we are in full crab mode as markets remain quiet and will continue to do so imo until next Friday's payrolls. The big concern continues to be oil prices where WTI remains elevated above $93/barrel. Consequently, this has once again caused upwards pressure on interest rates which now sees 2Y back up to 5.14% and 10Y at 4.65%. Even if we get soft labour market data next week, which I do think will alleviate interest rates, it feels like we're back to the concerns of H1 2022 when oil started spiralling out of control. It's definitely something to be wary of.