B.I.G. Tips – DJIA Changes
Chart of the Day: Bullish Patterns, Breaking Downtrends, and Rolling Over
Fixed Income Weekly – 6/20/18
Searching for ways to better understand the fixed income space or looking for actionable ideals in this asset class? Bespoke’s Fixed Income Weekly provides an update on rates and credit every Wednesday. We start off with a fresh piece of analysis driven by what’s in the headlines or driving the market in a given week. We then provide charts of how US Treasury futures and rates are trading, before moving on to a summary of recent fixed income ETF performance, short-term interest rates including money market funds, and a trade idea. We summarize changes and recent developments for a variety of yield curves (UST, bund, Eurodollar, US breakeven inflation and Bespoke’s Global Yield Curve) before finishing with a review of recent UST yield curve changes, spread changes for major credit products and international bonds, and 1 year return profiles for a cross section of the fixed income world.
Today we take a look at the risk premiums for interest rates priced by derivatives and spreads on fixed income assets broadly.
Our Fixed Income Weekly helps investors stay on top of fixed income markets and gain new perspective on the developments in interest rates. You can sign up for a Bespoke research trial below to see this week’s report and everything else Bespoke publishes free for the next two weeks!
Click here and start a 14-day free trial to Bespoke Institutional to see our newest Fixed Income Weekly now!
Bespoke’s Global Macro Dashboard — 6/20/18
Bespoke’s Global Macro Dashboard is a high-level summary of 22 major economies from around the world. For each country, we provide charts of local equity market prices, relative performance versus global equities, price to earnings ratios, dividend yields, economic growth, unemployment, retail sales and industrial production growth, inflation, money supply, spot FX performance versus the dollar, policy rate, and ten year local government bond yield interest rates. The report is intended as a tool for both reference and idea generation. It’s clients’ first stop for basic background info on how a given economy is performing, and what issues are driving the narrative for that economy. The dashboard helps you get up to speed on and keep track of the basics for the most important economies around the world, informing starting points for further research and risk management. It’s published weekly every Wednesday at the Bespoke Institutional membership level.
You can access our Global Macro Dashboard by starting a 14-day free trial to Bespoke Institutional now!
The Closer — Energy Seasonality, EIA vs API, Freight, Housing — 6/19/18
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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, we review the seasonality of WTI futures, absolute Energy equity market returns, and relative Energy equity market returns. We also review how useful API inventory reports are versus EIA inventory numbers for crude, surging transportation activity indices, and monthly residential construction numbers from the US Census.
See today’s post-market Closer and everything else Bespoke publishes by starting a 14-day free trial to Bespoke Institutional today!
B.I.G. Tips – Death by Amazon – 6/19/18
Bespoke Stock Scores — 6/19/18
US Dollar Breaking Above Another Key Resistance Level
The US Dollar index is now up 7.4% since its 2018 closing low hit on February 15th. This morning we just wanted to provide a heads up that the Dollar is breaking above another key resistance level at 95. The index had couldn’t break through 95 last October/November, and it failed once again at 95 at the end of May. The break above resistance at 95 this morning clears out additional supply and provides room to run towards 97 in the near term.
Remember, dollar strength benefits companies that generate most or all of their revenues domestically, while it hurts large-cap companies that generate large portions of their sales outside of the US. This is a key reason why the small-cap space has been outperforming over the last few months — small-caps are much more “domestic” in nature versus large-cap, global behemoths.
Chart of the Day: Largest Downside Gap Opens Since January
The Closer — Monday Mixer: Spreads, VIX, EMFX — 6/18/18
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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, we run through some miscellaneous charts on recent market themes: funding pressures versus investment grade debt spreads, the shape of the VIX curve, and the similarities between the Italian BTP spread blow-off and Q1’s volatility short blow-up. We also run through a series of EM currency charts given new pressures across the asset class.
See today’s post-market Closer and everything else Bespoke publishes by starting a 14-day free trial to Bespoke Institutional today!