The View from 5th Avenue

The View from 5th Avenue – 31 July 2023

Call it a typical case of the ‘Mondaze’ as markets lacked much enthusiasm until the final 15 minutes of the session. With no obvious catalysts, markets saw a strong rally into the close backed by a large buy imbalance as traders marked their books for month-end. Energy was the standout performer as Crude remains well bid above $80 and Pharma sat on the opposing end under pressure today. Major US indices all ended in the green despite mixed performance on either side of the breakeven line throug…

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