Global macro review 09/26/21
1/10
What a week!
$VIX 🚀 to 28.79 on ever grand 😱 only to ↘️ into FOMC, closing 17.75 ↘️
$RVX 24.61 -6.9%
$VXN - 20.93 -6.02%
$VXEEM 23.93 +23.93 👁🗨
Chart: $VIX put in a new high only to crash -38% leaving Monday put buyers with a 💼 of 🐝🐝
2/10
Despite (or maybe because of) the volatility, US equities closed higher on the week
$SPX +0.51% (w) -1.2% (t) +4.08% (T) ♉️
$COMPQ +0.02% (w) -0.54% (t) +4.79% (T) ♉️
$IWM +0.26% (w) -1.48% (t) -3.97% (T) 🐻
Chart: $SPX ↘️ 5.3% before retracing +3.5% off the Monday low
3/10
Energy and financials led US sectors ↗️
$XLE +3.2%
$XLF +1.7%
$XLK +0.79%
REITs, utes, and staples lagged
$XLRE -2.01%
$XLU -1.90%
$XLP -1.04%
Chart: XLE forming a base off July 19 and Aug 19 lows, ♉️ trade +3.2% but still 🐻 Trend -8.0%.
4/10
Asian equities ↘️
$HSI -2.9% (w) -17.41% (T) 🐻
$KOSPI -0.49% (w) -5.38% (T) 🐻
$SSEC -0.02% (w) +0.15% (T)
$NIKK -0.82% (w) + 4.07% (T) ♉️
Europe ↗️
$CAC +1.04% (w) +0.24% (T)
$DAX +0.27% (w) -0.49% (T)
Chart: $EEM now 🐻 (t) -1.48% and (T) -3.97%
4a/10
$SSEC failed at 3723, roll from here?
5/10
Metals were ↗️ on the week
$GOLD 1752 +0.02% (w) -1.47% (T) 🐻
$SILVER 22.43 +0.4% (w) -14.03% (T) 🐻
$PLAT 980 +8.44% (w) -11.21% (T) 🐻
$COPPER 4.29 +0.94% (w) 0% (T)
$GVZ 16.44 🔺
Chart: $DBB industrial metals +1.33% (w) +6.63% (T)
6/10
Hydrocarbons were a bright 💹 spot in your portfolio
$WTIC 73.98 +3.0% (w) -0.09% (T)
$BRENT +3.5% (w) +2.74% (T)
$GASO +0.94% (w) -5.31% (T)
$NATGAS +1.76% (w) +47.73% (T) ♉️♉️♉️
$OVX 34.01 🔺
Chart: $DBC+2.05% (w) and +3.75% (T) +4.9% (T) ♉️
7/10
Grains ↔️ on the week, and all 🐻 trade but ♉️ Trend
$WHEAT 724 +2.12%
$CORN 527 -0.1%
$SOYB 1285 +0.1%
$SUGAR 19.1 +1.08%
Chart: $DBA +1.08% (w) -2.7% (t) +5.44% (T)
8/10
The USD +0.16% bears watching as it is now +1.62% over 3 months
$USD 93.33 +0.16%
$GBP 1.367 -0.36%
$EUR 1.172 -0.04%
$AUD .726 unch
$CHF 1.082 +0.86%
$CAD .7901 +0.88%
$JPY .903 -0.69%
Chart: $USD putting in a series of higher highs and higher lows 👀
9/10
$TNX 1.46 +6.57% broke thru resistance this week.
10/2s to 118.1 BPS +3.87% - the highest level since week ended July 2.
MOVE 58.46 🔺
Bond ETFs are mostly neutral trade and trend right now, ↘️ from bullish
Chart: $TNX ↗️
10/10
As we end Q3, we are in a regime shift of sorts
GOLD + TLT ↘️
WTIC + COPPER ↗️ towards ♉️ trend
USD making higher lows
SPX remains ♉️ Trend but 🐻 trade
Europe no longer ♉️ but NIKK ↗️
You tell me. I see a lot of chop 🌊
Trade wisely - have a super profitable 💰week!
Addendum
These are highlights from my weekly 📓
If you find them valuable, please ❤️ and retweet 🙏
$UST5Y to .95% - belly of the curve breaking higher, even as the long bond lags the 5 and 10Y
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.