Inside Markets — Rate Relief
The post-election rotation into cyclical equity groups is back this morning after yesterday’s backup in yields put the theme on pause.
Inside Markets — CPI Preview
Consensus is looking for a headline CPI print of +0.2% and core reading of +0.3% MoM.
Inside Markets — Rotation
Fund flows should be supportive for equities into year-end with a wide open buyback window doing most of the heavy lifting.
Inside Markets — Reset
The CBOE Volatility Index (VIX) was priced for 2-3 days of uncertainty going into election results.
Inside Markets — Outlook
The outlook for small and mid-cap stocks improves in the aftermath of the election given assumed deregulation and the potential for tax reform.
Inside Markets — Election Outcome
The hedge fund community has reduced risk into the election with estimates of gross portfolio exposure (from last Friday) at its lowest level since March ’23.
Inside Markets — Positioning
The hedge fund community has reduced risk into the election with estimates of gross portfolio exposure (from last Friday) at its lowest level since March ’23.
Inside Markets — Election Expectations
Ten-year bond yields have risen +65bp since mid-November on a combination of firmer macro data and election expectations for a Republican sweep.
Inside Markets — Thirty-Year Bonds
Thirty-year bond prices have reached the most oversold condition (put/call ratio) since last October and attempting to bullishly reverse after systematic buy signals last Thursday and again yesterday.
Inside Markets — Jobs and Post-Election Re-Risking
Consensus for October non-farm payrolls is looking for +110,000 down from September’s outsized increase of +254,000.