Macro Dragon: Welcome to WK # 28...
Macro Dragon = Cross-Asset Daily Views that could cover anything from tactical positioning, to long-term thematic investments, key events & inflection points in the markets, all with the objective of consistent wealth creation overtime.
Market Quick Take - June 29, 2020
Equity markets have hit a weak patch since Friday as New York closed on a sour note on the combination of a worsening acceleration in Covid19 cases in the US and as mega-cap Facebook plunged some eight percent on Friday as a growing group of advertisers are boycotting the platform for its perceived failure to suppress content. The week ahead features US June payrolls and employment data on Thursday in a shortened week for US traders.
Market Quick Take - June 26, 2020
Equity markets were quick to find support yesterday and maintained a strong tone overnight after a sizable sell-off the prior day. The 200-day moving average in the S&P500 survived after an intraday test yesterday. The FX market is mired in a very tight range with as traders seem unable to generate any conviction on new developments.