May 4, 2022
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we took a look at the market’s performance on this particular Fed Day. After some choppy action initially in reaction to the 2 PM FOMC rate hike of 50 bps, the S&P 500 ripped 3.33% from 2:35 PM ET through the close. The catalyst for the move came when Chair Powell answered “no” when CNBC’s Steve Liesman asked him if 75 bps rate hikes were on the table. Bond yields fell sharply in conjunction with the rally in stocks as financial markets clearly viewed the comments as dovish relative to what was expected coming into today’s meeting.
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
May 3, 2022
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, after a recap of tonight’s notable earnings (page 1), we dive into today’s JOLTS and Atlanta Fed data showing ample evidence of a hot labor market (pages 2 & 3). Staying on macro data, we then review factory orders (page 4) and finish with an update of the Logistics Managers’ Index (pages 5 and 6).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
May 2, 2022
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, after a review of tonight’s major earnings reports including those of Avis Budget (CAR) and Clorox (CLX) to name a few (page 1), we show the cumulative decline from intraday highs to lows and some weak breadth measures (page 2). We then take a look at performance following similar intraday price action for the S&P 500 (SPY) to today (page 3). Next, we dive into high yield (page 4) and real yield (page 5) markets. Afterward, we provide an update on mortgage delinquencies (page 6) before closing out with a rundown of the latest speculator positioning data (pages 7-9).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Apr 28, 2022
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin tonight’s note by diving into tonight’s earnings reports including the weak reaction of Amazon (AMZN) (page 1). We then show how small caps reclaimed earlier losses in today’s session and what that means for forward returns (page 2). Switching to macro data, we show why today’s GDP slowdown is not as worrying as it may sound (pages 3 and 4). We then provide the final April update of our Five Fed Composite (pages 5-7) before finishing with a rundown of today’s 7-year note auction (page 8).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Apr 27, 2022
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we start out tonight’s note with a rundown of the important earnings released after the closing bell (page 1) followed by a look at the bond market carnage year to date (page 2). Turning to macro data, we then go over today’s housing releases (page 3) followed by dives into the latest data from the EIA (pages 4) and inventory and trade data (pages 5 and 6). We finish with a review of the 5-year note auction (page 7).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Apr 26, 2022
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin tonight’s Closer by taking a look at how close major indices are to new 52-week lows after today’s heavy dose of selling. We also show how the best and worst stocks yesterday performed today (page 1). We then recap tonight’s notable earnings released after the bell (page 2). Turning to macro data, we review today’s new home sales figures (pages 3 and 4) and home price indices including the shift between low and high tax metros (page 5). We then dive into preliminary durable goods numbers (page 6), consumer sentiment’s turn lower (page 7), and the 2 year note auction (page 8).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
