The Closer – Edging Towards Breakouts, Ag Surge, Precious Metals Collapse – 9/30/19

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Looking for deeper insight on markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin with a look at stocks’ technical setup, with particular focus on industrials and banks. Next we review today’s agricultural data and the boost they provided to the corresponding commodities. Also on the topic of commodities, we review the move in precious metals, before covering today’s regional Fed indices.

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The Closer: End of Week Charts — 9/27/19

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 – PTON Flop, EMFX Review, Data Dump, Impeachment Comfort – 9/26/19

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Looking for deeper insight on markets?  In tonight’s Closer sent to Bespoke Institutional clients, after reviewing the flop in Peloton’s (PTON) IPO, we take a look across emerging market’s FX performance. Turning to economic data, we then cover today’s strong home sales, continuing claims, energy investment, and trade data. We finish with a look at Bloomberg’s weekly Consumer Comfort data, including a breakdown by political party.

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The Closer – Ukrainian Buyers, Big Fund Flows, Strong Home Sales – 9/25/19

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Looking for deeper insight on markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin with a recap of today’s market catalysts including the release of the transcript of President Trump’s call with the Ukrainian president. We also review this week’s ICI data which showed a massive inflow into domestic equity ETFs. In economic data, we finish with a look at new home sales and EIA data.

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The Closer – We Still Won’t, Oil Backwardation, Bearish Engulfing, Case-Shiller – 9/24/19

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Looking for deeper insight on markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin with a look at the massive spread in WeWork’s bonds following today’s headlines that CEO Adam Neumann will be stepping down.  With the dust now settled after last week’s move in crude oil in the wake of attacks on Saudi facilities, we then review the shape of crude oil’s term structure. Next, we review the bearish engulfing pattern in the S&P 500. We finish with today’s economic data including Case-Shiller home prices, quarterly personal income, and an update to our Five Fed Manufacturing composite with today’s Richmond Fed release.

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The Closer – Golden Yields, Distressed Details, PMIs, Employment Breadth – 9/23/19

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Looking for deeper insight on markets?  In tonight’s Closer sent to Bespoke Institutional clients, we discuss the relationship between gold and yields, before reviewing the performance of the ten worst-performing stocks in the S&P 500. We also take a look at the rising number of distressed high yield issuers. In economic data, we discuss flash PMIs from Markit and the breadth of labor market strength in the US.

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