Thursday, August 1, 2024

Manufacturing drops

And so too do yields...
 
   
     
Thursday, August 1st
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“People don't want their lives fixed. Nobody wants their problems solved. Their dramas. Their distractions. Their stories resolved. Their messed cleaned up. Because what would they have left? Just the big scary unknown.”

- Chuck Palahniuk
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Markets Today
 
 
🌏 Asia-Pacific: Down
 
🇪🇺 Europe: Down

🇺🇸 United States: Down

🛢️ Oil: Down

Crypto: Down
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Major Market Events 
 
 
U.S. manufacturing drops: ​The latest ISM report revealed some startling numbers (link)
 
Japan market has worst day since 2020: As Yen rises, stocks plummet (link)
 
95% chance of rate cut in September? That's what the prediction markets are saying (link)
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🤔 My Thoughts 
 
 
10-yr yields dropped below 4% for the first time since April. The question is:

What does this mean? 

On one hand, it could mean that the bond traders see rate cuts as imminent in September and is moving the bond market accordingly. On the other hand, it could mean that the bond vigilantes don't like the talk of Fed rate cuts in December, and are moving the rates lower to stop Powell from cutting. 
To Better Trading,

Alex Reid
Wealthpin
 
WealthPin
   
     
   
 

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