"No matter how good fundamentals may be, humans exercising their greed and propensity to err have the ability to screw things up" We clearly saw some consolidation in the markets yesterday. US2s - 2 bps, 4.92% , High 4.957% - Low 4.89% US10s - 8 bps, 4.57%, High 4.66% - Low 4.57% US2s10s -35 bps (-5 bps) DXY 105.50 +0.23% Fed Fund pricing Peak Terminal Pricing 5.37% Jun 24 Pricing 5.045% ~ market is pricing in one full 25 bps rate cut by mid next year Dec 24 Pricing 4.457% Brent Crude Oil prices dropped below $81.60 support to trade a low of $ 81.27 as US crude oil inventories saw a major build up and less than encouraging trade data from China failed to support demand outlook . Crude oil stocks rose by a 11.9 mn barrels w/e Nov 3 following a 1.347 mn barrel rise in the prior week (API). API data shows net build up in crude oil inventories of 10.568 mn barrels so far this year. Of Note, German Industrial Production contracted 1.40% mom , est -0.10% Da...
The specific focus of the Blog is on Global and Domestic interest rates and currencies market. I look at fundamentals to define my bias and corroborate that with a study of price action to put on high conviction trades. The views and opinions are those of author and author alone. ~ Author: Vaishali Bagchi