Follow through higher.
Markets:
Asia and Europe green but for Spain, where equities are lower and yields are higher.
Officials from Catalonia are moving ahead once again for a push for independence from Spain.
Keeping an eye on China, not as savior but as an implosion candidate:
China's Hidden Debt Stirs Investor Angst as Defaults Rise
Mood:
Never say Never.
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| Source: L'Humanité |
A European currency strategist was quoted: "(The second round of the election) is going to be a non-event for the market." Really?
A 20% lumber tariff on Canada? Not the best optics with our largest trading partner & peaceful next door neighbor.
Magic Johnson launches infrastructure fund (Marketwatch). No comment.
And Vanity Fair just proved that Justin Bieber still tracks social mood remarkably well.
Justin Bieber Is a Changed Man
The best is yet to come . . .
FX:
Not quiet today. Big moves.
Commodity currencies hit. EUR & GBP stronger. USD is in a bad neighborhood and needs to act fast.
Safe haven bid to CHF but JPY weaker.
Treasuries:
Prices under pressure once more.
Energy:
WTI crude and NG down in unison again.
48 and 55 area key to oil's pattern thus far.
Metals:
Gold, silver, platinum, and palladium down. Copper brighter by more than 1%.
S&P Outlook:
SPX 2378.36 looks set to break, as does Dow 20,887.50. NDX continues into the ether.
Once again, reminiscent of pre-Brexit, markets feel just a little too sure of themselves heading into the French election runoff.
In bi-polar fashion, "surprising disappointment" has flipped to euphoria in mere hours.
New Dow & S&P highs are needed promptly or else larger, more complex corrective patterns can take over at any time (Turnaround Tuesday? New Moon Wednesday).
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