Fixed Income Weekly – 6/28/17
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.
In this week’s note, we discuss global financial conditions and present a trade that is bearish on equities without having to pay carry to be short.
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!
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The Closer — Lat Am Macro, Case-Shtability, Mixed Readings In Richmond — 6/27/17
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Looking for deeper insight on global markets and economics? In tonight’s Closer sent to Bespoke Institutional clients, we take a look at Latin American macro data released today, highlighting the current situation in Brazil specifically, before reviewing S&P/CoreLogic Case-Shiller Home Price data for April and the Richmond Fed’s June assessment of the district’s manufacturing and services sectors. Finally, we review recent Fed commentary from speeches and interviews given over the past week.
The Closer is one of our most popular reports, and you can sign up for a free trial below to see it!
The Closer is one of our most popular reports, and you can see it and everything else Bespoke publishes by starting a no-obligation 14-day free trial to our research!
Bespoke Short Interest Report – 6/27/17
Chart of the Day: Not So Great Expectations
Bespoke Stock Scores: 6/27/17
Consumer Confidence Bucks the Trend
In a sea of weaker than expected reports recently, today’s data on Consumer Confidence managed to buck the trend. In June’s report, overall confidence increased from 117.6 up to 118.9 compared to expectations for a decline to 116. While off its recent highs, overall confidence still remains right near its highest levels in more than 15 years and is well above the average of 93.8 going back to 2000. Within the June report, however, there was a bit of disparity in that while the Present Situation Index increased to a new multi-decade high, the Expectations Index pulled back. As a result, the spread between the two indices is at its widest level since February 2008.
One reason consumers likely have to be positive about their present situation is that jobs are easier to get than they have been at any other point since August 2001. The fact that confidence about the future hasn’t been keeping up with current conditions, though, suggests that consumers aren’t so sure that these jobs are long lasting.
ETF Trends: International – 6/27/17
Solar tops our list of best perfomers this week, up about 6% along with Biotech, who continues its run at the top. Steel is another notable outperformer, up about 5% after being down almost 5% last week. Underperformers continue to come from the oil sector, down about 2%. Telecoms and Banks are also notable underperformers.
Bespoke provides Bespoke Premium and Bespoke Institutional members with a daily ETF Trends report that highlights proprietary trend and timing scores for more than 200 widely followed ETFs across all asset classes. If you’re an ETF investor, this daily report is perfect. Sign up below to access today’s ETF Trends report.
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The Closer — Monday Misses — 6/26/17
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Looking for deeper insight on global markets and economics? In tonight’s Closer sent to Bespoke Institutional clients, we review misses in economic data from the US to start the week.
The Closer is one of our most popular reports, and you can sign up for a free trial below to see it!
The Closer is one of our most popular reports, and you can see it and everything else Bespoke publishes by starting a no-obligation 14-day free trial to our research!