The Closer – Mean Reversion, Booming in Beige, Tight Housing, EIA Impresses – 4/14/21

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Looking for deeper insight into markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin, with a recap of Coinbase’s (COIN) direct listing as well as a review of decile performance of the Russell 3,000.  We then turn to a note on earnings estimates and an update of our Beige Book Index.  Next, we review the decline in mortgage applications and what are the drivers of that decline.  We close out with a recap of this week’s EIA data.

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The Closer – SPY Streak, Inflation In Detail, Strong Duration Bid – 4/13/21

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Looking for deeper insight into markets?  In tonight’s Closer sent to Bespoke Institutional clients, we check in on SPY’s record streak of open-to-close gains.  Next, we take a deep dive into today’s CPI data.  We close with a review of today’s 30-year bond reopening.

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The Closer – Momentum Movement, Treasury Auctions, Budget Statement – 4/12/21

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Looking for deeper insight into markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin by showing the lengthy streak of open to close gains for momentum stocks and what that means for forward returns.  Next, we recap today’s Treasury auctions before reviewing the Federal budget statement for the month of March. We close out with a review of the quarterly outlook data released by the Bank of Canada today.

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The Closer – End of Week Charts – 4/9/21

Looking for deeper insight on global markets and economics?  In tonight’s Closer sent to Bespoke clients, we recap weekly price action in major asset classes, update economic surprise index data for major economies, chart the weekly Commitment of Traders report from the CFTC, and provide our normal nightly update on ETF performance, volume and price movers, and the Bespoke Market Timing Model.  We also take a look at the trend in various developed market FX markets.

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The Closer – Volume Collapse, Mega cap Back, Growth Accelerates – 4/8/21

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Looking for deeper insight into markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin by showing how much volumes have declined recently before showing the outperformance of mega cap Tech and momentum stocks.  Next, we update our high frequency indicator growth tracker. We then show how business applications have surged over the past year.

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The Closer – Analogues, Trade Balances, Consumer Credit, EIA – 4/7/21

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Looking for deeper insight into markets?  In tonight’s Closer sent to Bespoke Institutional clients, we start out by drawing parallels between the past year’s price action to times in the past.  We then recap today’s Fed minutes and the US trade balance.  Next, we review consumer credit data released today with a particular look at auto loans. We close out with a recap of weekly EIA data.

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