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Yields Fall As Safe Haven Flows

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STATE OF THE MARKETS

Yields fall as safe haven flows. Major US stocks indexes closed mixed on Thursday, with Dow (+0.20%) in the green, while S&P (-0.30%) and Nasdaq (-0.70%) closed lower; after unemployment claims came out as expected and investors flock to bonds safety, benefitting the Greenback. The 10Y maturity continued to yield down from 1.35% to 1.30% as New York closed. 

In the commodities market, crude futures edged lower, closed at $71.65/bl, after reports showed rising demand concern and OPEC+ still in limbo on production quota. Gold edged higher, closing above the $1,825/oz mark, as some investors do not see Feds ability to raise rates anytime soon, given the size of the balance sheets and debt ceiling limit at the end of this month.

In the FX space, long term investors remained cautious as demand for Swiss and Yen remained elevated, in continued hedging with higher yielding Kiwi and Dollar. Safe haven flows continue to dominate demand across the board as Yen strength continues. Crude weakness sent Loonie on offers across all horizons, supporting mainly Euro and Sterling. Markets look forward to seeing the RBA and ECB meeting next week to decide the next path for Aussie and Euro.


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G8 CURRENCIES SENTIMENTS

ST JPY USD EUR GBP CHF NZD CAD AUD ST
MT NZD GBP JPY USD AUD EUR CHF CAD MT
LT USD JPY NZD CHF GBP EUR CAD AUD LT
** ST refers to Short-Term daily turnover, MT is Medium Term weekly 
and LT refers to Long-Term monthly turnover.

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
VERB 3.20 + 28.51 271,406.0K 5,390.1K
AMC 36.00 + 7.69 199,584.5K 141,605.9K
YVR 2.62 + 65.85 183,725.1K 7,987.6K
CIDM 1.49 + 37.96 174,581.0K 24,946.8K
XELA 3.30 – 17.50 131,823.7K 43,398.8K
SQQQ 8.67 + 2.00 112,610.5K 78,039.8K
AAPL 148.48 – 0.46 106,820.2K 89,444.9K
SPCE 31.74 – 4.02 63,432.2K 29,909.4K
NIO 43.68 + 1.46 55,860.4K 78,614.1K
SPY 434.75 – 0.34 55,126.4K 73,556.0K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AAPL 148.48 106,820.2K + 24.88 15,860.7M
TSLA 650.60 20,209.5K – 15.12 13,148.3M
AMZN 3,631.20 3,185.2K – 13.27 11,566.1M
NVDA 758.65 13,764.1K + 19.89 10,442.1M
AMC 36.00 199,584.5K + 66.66 7,185.0M
MSFT 281.03 22,604.2K – 6.06 6,352.5M
FB 344.46 14,781.5K – 4.29 5,091.6M
MRNA 259.67 15,130.7K + 87.08 3,929.0M
AMD 86.93 38,944.7K – 10.37 3,385.5M
NFLX 542.95 5,713.8K + 60.43 3,102.3M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
CCL 21.95 / 22.00 stock options/call 80.13 949.0M
UAA 20.08 / 20.00 stock options/call 73.87 106.7M
LYV 79.93 / 82.50 stock options/call 59.08 154.7M
ZN – T 110.0713 – 133.2450 US bond futures 28,698 356,733.5M
CL 54.00 – 72.83 crude oil futures 6,321 444.2M

OUR PICK – No New Pick

No new picks going into the weekend.  We continue to see this week, ending 7/7, that long term US investors continue to cash out ($3.08b) from domestic markets and send over $0.66b to foreign equities. More than $30.7b flowed out of short term money markets while close to $4.8b flowed into taxable bond funds. More cash is coming out as markets prepare for the debt ceiling by the end of this month.

Trades updates:  We will continue to accumulate AUY as the stock now pays dividends yielding 2.41% at current price, we remain bullish T and will accumulate as dividends yields now at 7.32%, we remain bullish CLVSVIPS and COG, while short GPRO and APA, XAG/USD and EUR/USD longs remain active, USD/CAD was stopped out and bearish GE.

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HORIZON STRATEGY SL TP1 -TP2
Short-Term
Medium-Term
Long-Term

 

Disclaimer:

This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities. Opinions expressed are of the authors and not necessarily of MFM Securities Limited or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.