Markets are no longer in the holiday spirit as they fell for the third day in a row. The CPI numbers from Tuesday were not enough to push them higher into yearend as continued hawkish rhetoric for the Fed has rattled the markets. Investors saw early week gains wiped out as the SPX (-1.1%) closed in the red and below its 50d (3863). Global PMI data this morning provided no relief as all came in below surveyed estimates, adding to the argument that a recission is on the horizon.
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.