Really what you’re seeing is, across asset classes, the market is adopting a pro-cyclical view, which means better growth in the future…Tom Essaye, The Sevens Report Research Founder, told Yahoo Finance Live. Click here to read the full article.
What’s in Today’s Report:
Futures are higher following news a government shutdown will be avoided and despite mixed economic data.
Senate Majority Leader Schumer announced a deal to fund the government and avoid a shutdown tomorrow, although this was always expected (and this does not address the Debt Ceiling).
Economic data was mixed as the Chinese manufacturing PMI fell below 50 (49.6 vs. (E) 50.1) while UK GDP handily beat estimates at 5.5% vs. (E) 4.8%, but the data isn’t moving markets.
Today the key report will be Jobless Claims (E: 335K) and markets will want to see them drop back towards 300k. We also get the Final Q2 GDP (E: 6.7%) but at this point, that’s a very “old” number. There are also numerous Fed speakers today including more Powell/Yellen testimony along with Williams (10:00 a.m. ET), Bostic (11:00 a.m. ET), Harker (11:30 a.m. ET), Evans (12:30 p.m. ET), Bullard (1:05 p.m. ET), and Daly (2:30 p.m. ET).
Finally, today is the last trading day of the month and quarter so some additional volatility on month/quarter-end positioning shouldn’t be a surprise.
There really isn’t a global contagion risk with Evergrande because in the end, and as far as we know, the loans…wrote Tom Essaye, the founder of Sevens Report Research. Click here to read the full article.
Bottom line, the stock market is being driven by the bond market this week and if we see bonds…said Tom Essaye, founder and president of Sevens Report Research. Click here to read the full article.
The 10-year is now trading at a key level that could prove to be an inflection point for…according to Tom Essaye of the Sevens Report. Click here to read the full article.
Yields on the 10-year Treasury shot up 3.5 basis points on Tuesday to their…market analyst Tom Essaye, president of Sevens Report Research, said in a note. Click here to read the full article.
If economic and inflation data is solid this week, and the 10-year yield can breakthrough the mid-1.50% range…Tom Essaye of the Sevens Report said in a note. Click here to read the full article.
But it’s held some support now. And it’s starting to bounce back. I think that’s generally…Tom Essaye, founder and president of Sevens Report Research. Click here to read the full article.
Really what you’re seeing is, across asset classes, the market [is adopting] a pro-cyclical view…Tom Essaye, The Sevens Report Research Founder. Click here to read the full article.
Investors should prepare for more volatility over the coming days…according to Tom Essaye, a former Merrill Lynch trader who writes the “Sevens Report” newsletter. Click here to read the full article.
