City A.M. TV – Daily Market Snapshot (video) March 8, 2021 Rising bond yields and weakness in tech growth stocks has continued to hold back the advance of the global equity market in recent weeks. On Friday the US market managed a turnaround in the cash trading session, rallying sharply intraday to close notably higher (e.g. Philly SOX +3.1 per cent, S&P500 +1.9 per cent). In [...]
City A.M. TV – Daily Market Snapshot (video) March 4, 2021 The divergence between the ‘growth’ and the ‘value/cyclical’ parts of the global equity market continued yesterday. Value oriented markets, like the UK’s FTSE100 and parts of the European equity landscape, rallied on the session. The UK’s FTSE all share banks sector, for example, is back at its highest since the start of the pandemic. In [...]
City A.M. TV: Daily Market Snapshot (video) February 26, 2021 There was a sharp shift in tone in markets yesterday, with the back-up in bond yields causing significant disruption in the equity market. Of note, that disruption spread beyond the tech and growth sectors – with weakness in all 11 S&P500 sectors, all 24 S&P500 industry groups, and all the key US headline equity indices [...]
Ollie Phillips: I still think they’re poor, but belligerent Wales can beat fragile England – even without a Principality Stadium crowd February 26, 2021 Don’t underestimate the magnitude of Wales v England in the Six Nations in Cardiff on Saturday. With France’s position uncertain due to a Covid-19 outbreak, this is a big match in the context of the title and, for Wales, possibly a Grand Slam. And anyway, this is Wales v England: a great clash full of [...]
City A.M. TV: Daily Market Snapshot (video) February 25, 2021 City A.M. TV: Daily Market Snapshot (video)
City A.M. TV: Daily Market Snapshot (video) February 24, 2021 Sector behaviour in the global markets is currently unusually divergent. Key cyclical sectors across the globe are making new highs: UK & US airline sectors, for example, have rallied sharply in recent trading sessions to new multi month highs; the UK’s FTSE basic materials sector is at new multi-year highs, while the global banks sector [...]
City A.M. TV: Daily Market Snapshot (video) February 23, 2021 Following false breakouts in markets last week, downside momentum continued to build yesterday.
City A.M. TV: Daily Market Snapshot (video) February 22, 2021 After a false breakout to the upside in equity markets early last week, momentum has shifted sharply to the downside. With that, there has been further weakness in key equity index futures markets in Asian trading overnight. As a result, there are now two key factors that we are watching to judge when the downside has played out and, therefore, when to reinstate LONG positions. Those [...]
City A.M. TV: Daily Market Snapshot (video) February 19, 2021 Momentum in markets continued to roll over yesterday, with all major US equity indices (and most sectors) closing lower. The ‘false breakout’ theme that we highlighted in yesterday’s video therefore remains intact. Of note in that respect, and as we show in today’s clip, it’s clear that, as well as weaker momentum, the ‘internals’ of [...]
City A.M. TV: Daily Market Snapshot (video) February 18, 2021 Price action in markets has been poor in the past 24 hours. In particular, having broken out to new highs earlier this week, major US equity indices have fallen back into the middle of their recent trading ranges (including both the S&P500 & Nasdaq100). The ‘upside breakout’, therefore, has been false. That raises a key question [...]