US Equities closed in the green with S&P 500 closing the day 1% higher and Nasdaq closing the day 1.20% higher. The USD index pulled back from 106.63 to 106.18 levels as risk sentiment improved on diplomatic efforts. President Biden will visit Israel on Wednesday, Secretary of State Antony Blinken said in Tel Aviv. Yields on US2s rose to 5.10% and US10s rose to 4.73% and US2s10s bear steepened to -40 bps from last week's close of -45 bps. NY Empire State Mfg index gauges business conditions for NY manufacturers. The index came in at -4.60 f/c -7. Fed's Harker comments: the Central Bank should not create new pressures in the economy by increasing the cost of borrowing. "We should not at this point be thinking about any increases" Earnings Results from Bank of America, Goldman Sachs and Bank of New York Mellon are on Tuesday's Calendar. Economic releases scheduled on the day - U.S. retail sales, industrial production and business inventories data. India W...
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