STATE OF THE MARKETS
Markets optimism continues as Biden Presidency looks imminent. Democrat President and a split congress dimmed the prospect of higher corporate taxes, hence higher equities market, lower bond prices and higher yields. However, as markets closed, more bonds are being purchased, over $153b in the futures market, leading to lower yields. 10Y notes was down to 0.78% compared to 0.90% Wednesday.
Crude took a pause as rush of sell orders hit the book when investors fear the growing lockdown is going to dampened demand. A tie senate at this point calmed the markets, but shall Democrats took another lead of the 100 seats, further collapse is to be expected.
Greenback took a hit across the board, as investors see more stimulus coming but under divided senate that might not be the case; which saw options traders buying gold put striking at 1,730 to 1,150 expiring December 2020 and June 2021. Short and medium-term accounts returned to GBP on profit taking as BoE increased asset purchases more than expected and more Swiss buying on the medium term suggests that investors remain cautious on the outcome of the US election.
G8 CURRENCIES SENTIMENTS
** ST refers to Short-Term which is daily turnover, MT is Medium Term which is
weekly and LT refers to Long-Term which is monthly turnover.
WALL ST MOST ACTIVE
|VOLUME||90 DAYS AVG|
** % Change here refer to price vs previous day price
WALL ST TOP FLOWS
|% CHANGE||FUNDS FLOW $|
** % change here refers to volume vs. 20 days average volume.
TOP 5 BLOCK ORDERS
|GC||1,950.00 – 1919.40||gold futures||768||177.5M|
|CL||38.85 – 39.30||crude oil futures||2,331||91.1M|
|ZB-ZN||174.02 – 139.01||US bond futures||9,829||153,539.3M|
OUR PICK – Flat
Our risk averse accounts remain flat for the US election.
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