A Market in Transition

What’s in Today’s Report:

  • Updated Market Outlook:  A Market in Transition
  • Weekly Economic Cheat Sheet:  Key Reports Thursday and Friday (And They’re Important)
  • Weekly Market Preview:   Can the Rise in Yields Become Orderly?

Futures are modestly lower following a generally quiet weekend as markets reverse Friday’s late day rally amidst concern about forced selling due to a hedge fund failure.

Archegos Capital was unable to make margin calls last week which resulted in losses and Nomura and Credit Suisse, and that’s causing some mild anxiety about more potentially forced selling looming in the equity markets.

There were no notable economic reports overnight.

Today there are no notable economic reports and just one Fed speaker, Waller (11:00 a.m. ET).  So, focus will be on any perceived fallout from the Archegos Capital failure and if there’s any forced selling appearing in certain stocks (if there is, it could weigh temporarily on the entire market).