Futures Jump As Dollar Slide Accelerates
Futures Jump As Dollar Slide Accelerates It appears that Goldman''s trading desk was right again. Just days after the vampire squid''s sellside researchers were warning that the market has not yet bottomed, the bank''s far more accurate flow traders said that " The Pain Trade Is Now Up, The CPI Doesn''t Matter At All, And The Q4 Chase Starts Early ", and on Monday morning it was all engines go in global stock markets, with US equities poised to extend their brisk rally from last week as investors braced for the final CPI before the Federal Reserve’s September decision. Futures for the SP 500 and Nasdaq 100 both rose 0.5% each at 715 a.m. in New York, extending above their Friday session highs, putting the underlying gauges on track for a fourth day of gains, while Europe''s Stoxx 600 index climbed for a third day, and Asia was almost all green. Treasury yields dropped and the dollar retreated further as traders bet inflation is near peaking even as Fed talking heads ramped up hawkish rhetoric (it''s ok, the Fed is always 9-12 months behind the curve).
Futures Jump As Dollar Slide Accelerates
Futures Jump As Dollar Slide Accelerates It appears that Goldman''s trading desk was right again. Just days after the vampire squid''s sellside researchers were warning that the market has not yet bottomed, the bank''s far more accurate flow traders said that " The Pain Trade Is Now Up, The CPI Doesn''t Matter At All, And The Q4 Chase Starts Early ", and on Monday morning it was all engines go in global stock markets, with US equities poised to extend their brisk rally from last week as investors braced for the final CPI before the Federal Reserve’s September decision. Futures for the SP 500 and Nasdaq 100 both rose 0.5% each at 715 a.m. in New York, extending above their Friday session highs, putting the underlying gauges on track for a fourth day of gains, while Europe''s Stoxx 600 index climbed for a third day, and Asia was almost all green. Treasury yields dropped and the dollar retreated further as traders bet inflation is near peaking even as Fed talking heads ramped up hawkish rhetoric (it''s ok, the Fed is always 9-12 months behind the curve).