Helpful Halitosis… Going on a date? Bad breath is a problem… But hoping for new all-time highs on the major US indices? Bad brea(d)th isn’t gonna hold you back. Despite another morning of soggy sentiment pre-market, indices are in the green thanks to who else but Tech / Semis dragging them higher, as the majority of S&P stocks sit in the red (Invesco S&P Equal Weight ETF RSP -0.3%). Pre-opening futures suggested we were in for a jittery Friday, however strong US PMI’s and a sizzling Home Sales number reassured that at least the US economic recovery remains on track. Still, the data allowed the USD has held onto to its gain gains earned (DXY still below resistance at 94) amid some repositioning in the crowded short $ trade, which has weighed on Gold and Oil. It seems nearly every market conversation these days revolves around the question “How much longer can this go on?” and we clearly have not found that answer just yet…
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.