Market Quick Take - July 7, 2020
The Shanghai Composite climbed for a sixth day while stocks in Japan and South Korea retreated. The S&P 500, having closed higher for a fifth day, also slipped while the dollar and Treasuries held steady. Gold closed at its highest in this cycle, supported by COVID-19 angst together with rising breakeven and falling real yields.
Market Quick Take - July 6, 2020
Asian stocks, led by Chinese equities, rose overnight following positive comments on the market from Chinese state media. Benchmarks across the region followed while U.S. remain bid, thereby supporting risk appetite across other markets such as crude oil. It highlights the markets ability and willingness to look through rising infection rates towards an anticipated recovery. The dollar trades softer as the euro mount another upside challenge. A thin week in terms of economic news will give the market plenty of time to prepare for the U.S. earnings season, kicking of next week.