The Closer – Technicals Turn, Strong Demand for 2s, New Home Sales Not Started – 5/23/23

May 23, 2023

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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin tonight with the technical developments in the wake of today’s declines (page 1) followed by a look at the very strong demand for two year notes at auction (page 2). We then recap today’s new home sales data (pages 3 and 4) and how home affordability has shifted (page 5).  We then take a look at the latest PMI data (page 6) and update our Five Fed Manufacturing Composite (page 7).

See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!

The Closer – Even More Fedspeak, Leading Group Gamble, Positioning – 5/22/23

May 22, 2023

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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we start out with a look at today’s Fedspeak and market pricing of FOMC decisions to come (page 1). We then show the disconnect between two leading industry groups (page 2) followed by a dive into the latest housing data from Redfin (page 3). Afterward, we preview this week’s Treasury auctions (page 4) and the latest positioning data (pages 5-7).

See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!