City A.M. TV: Daily Market Snapshot (video) February 17, 2021 Government bond yields have been backing up sharply in recent weeks. Yesterday the key US 10 year yield (the main risk free rate in global financial markets) reached 1.30 per cent yield at its close. Rising government yields tend to correlate with outperformance by cyclicals, financials and energy stocks/sectors. February, so far, has been consistent [...]
City A.M. TV – Daily Market Snapshot (video) February 16, 2021 After ‘pausing’ for most of last week, global equity markets continued to break out to the upside yesterday and overnight. Both the S&P500 and the NASDAQ, for example, have once again made new record highs; Asian indices have squeezed higher; while the UK’s FTSE100 rallied sharply yesterday (closing up +2.5 per cent, and breaking above [...]
City A.M. TV: Daily Market Snapshot (video) February 15, 2021 The great pause, which we have seen in global equity markets over much of February, appears to be over. Markets are breaking out to the upside. That started with strength in the US into the close on Friday, with that strength continuing in Asian trading earlier today. Asian markets are also following – the Nikkei [...]
City A.M. TV: Daily Market Snapshot (video) February 12, 2021 Markets have continued their consolidation patterns in recent trading sessions. That is key global equity markets have largely paused their uptrend & moved sideways for much of February. Those markets include the key US market, the S&P500, the tech heavy NASDAQ and various Asian markets. The UK’s FTSE100 index has also consolidated its recent gains [...]
Ollie Phillips’ Six Nations predictions: England to bully poor Italy; impressive Ireland won’t be pushovers for France; Scotland too good for Wales February 12, 2021 It’s not as if we didn’t see the problems coming with England before their defeat to Scotland in last week’s Six Nations opener. Physicality is the minimum requirement at international rugby but you need more than that. England had lacked ingenuity. And, sure enough, Scotland totally outfoxed the holders at in every area of the [...]
City A.M. TV: Daily Market Snapshot (video) February 11, 2021 After strong gains in early February, US and European equity markets have mostly drifted sideways this week. The key question now is: Are equities merely pausing for breath and consolidating their gains (before the uptrend resumes); OR – are they about to ‘top out’ and sell-off over coming trading days? In this brief clip we [...]
City A.M. TV: Daily Market Snapshot (video) February 10, 2021 On the surface, risk assets appear to be bullet proof. Commodities including copper and oil, for example, keep trending higher and made new highs yesterday, while certain equity indices such as the Russell 2000 have extended their recent gains (the index is now up 16 per cent YTD). In this brief clip, though, we dig [...]
City A.M. TV: Daily Market Snapshot (video) February 9, 2021 With a number of US equity indices pushing out to new highs yesterday, the key near term question is: Are markets about to top? Or does the upside move just gets going? In this brief clip, we think about the answers to those questions and examine the evidence. On one hand, for example, it’s well [...]
City A.M. TV: Daily market snapshot (video) February 8, 2021 Is there a message for western markets from Asian price action? Various key Asian markets, including the Chinese Shanghai Composite, Hong Kong’s Hang Seng and Korea’s Kospi, have all struggled to break above key technical levels in recent trading sessions. That stands in contrast the price action in the US (at new highs) and Germany’s [...]
Ollie Phillips: Improving France will dethrone Six Nations favourites England – and empty stadiums will help Les Bleus February 6, 2021 It’s easy to see why England have been installed as the favourites for the Six Nations, which starts this weekend. But they aren’t my tip. Yes, England are the holders, having prevailed in an interrupted 2020 championship that finally concluded in October. They then won the Autumn Nations Cup, beating France in the process – [...]