Thread by @tdarling1

Hello Thursday!

"With inflation well above our longer-run goal of 2% and with the labor market remaining extremely tight… ongoing increases in the target range for the federal funds rate will be appropriate …to return inflation to 2%…"
~J. Powell

Let's dig into the 🧮!

In Asia, $NIKK 🇯🇵↗️ ♉️

$NIKK 8623 +0.65%
$SSEC 3276 -0.2%
$TWII 15771 -0.3%
$HSI 19926 -0.65%
$KOSPI 2414 -0.55%
$IDX 6780 +0.35%

Australia ↔️
$ASX 7311 +0.05%

India ↘️
$BSE 59837 -0.85%

Europe under pressure ↘️

$DAX 15571 -0.4%
$FTSE 7872 -0.75%
$CAC 7282 -0.6%
$AEX 747 -0.8%
$IBEX 9402 -0.7%
$MIB 27591 -1.15%
$SMI 10928 -0.9%
$MOEX 2281 -0.65%

$VSTOXX 18.50

$DAX range = 15217 - 15813 ♉️

🇺🇸 futures ↘️ with $RTY at the low end of the range

$ES 3978 -0.35%
$NQ 12141 -0.6%
$RTY 1871 -0.35%

$VIX 19.52 🔺

$SPX range = 3914 - 4040 back to ♉️
$COMPQ range = 11261 - 11778 ♉️
$IWM range = 185 - 190 ♉️
$VIX range = 17.79 - 22.62 🐻

GOLD ↔️ with metals ↘️

$GOLD 1821 +0.1%
$SILVER 20.142 -0.05%
$COPPER 4.022 -0.1%
$PLAT 940 -0.1%
$PALL 1351 -0.8%
$ALI 2337 -0.7%
$ZINC 2958 -0.55%

$GVZ 13.79 🔻 ⬅️ cheap to hedge

$GOLD range = 1796 - 1887 ↔️
$SILVER range = 19.59 - 21.39 🐻
$COPPER range = 3.94 - 4.21 ♉️

Hydrocarbons ↔️

$WTIC 76.52 -0.2%
$BRENT 82.57 -0.1%
$GASO 2.692 +0.1%
$NATGAS 2.583 +1.25%

$OVX 33.39

$WTIC range = 74.36 - 81.07 ♉️
$NATGAS range = 2.14 - 2.94 🐻
$DBC range = 23.48 - 24.53 ↔️

Grains ↔️ after yesterday's drubbing with $DBA to 20.07, nearing the low of the range

$WHEAT 690 +0.4%
$CORN 629 +0.4%
$SOYB 1522 +0.35%
$SUGAR 20.77 -0.45%

$COFFEE ☕️ 176.30 -0.2%

$DBA range = 19.96 - 20.65 ♉️

$USD retreats ↘️

$EUR 1.056 +0.14%
$GBP 1.187 +0.23%
$AUD 0.661 +0.36%
$USD 105.435 -0.2%
$USDJPY 136.20 -0.83% ⬅️
$USDCHF 0.937 -0.46%
$USDCAD 1.381 +0.01%
$USDCNY 6.96 +0.13%

#FX vol 9.86

$USD range = 104.24 - 106.43 ↔️
$GBP range = 1.173 - 1.203 🐻

#Cryptocurrencies ↔️ and at the low end of the range

$BTC 21628 -0.35%
$ETH 1531 -0.1%

#Bitcoin range = 21015 - 23403 ♉️

UST yields ↔️
10/2s to -104 bps
10Y3M to -107 bps

MOVE 129.76 🔻🛗

$TNX range = 3.88 - 4.11 ♉️
$TLT range = 99.05 - 103.37 🐻

Global 10Ys
UST 3.997
GILT 3.802
BUND 2.695
ITA 4.495
JPN 0.504
AUS 3.722
CAN 3.231

"We have more work to do…"

More work means tighter for longer, which is not ♉️ risk assets

The table is set for claims with +195 expected today and #NFP tomorrow with consensus +205K and 3.4% unemployment

Bide your time in $BILS and have a super profitable 💰 day!