Reflation trade back in vogue
Oil rout eases at technical crossroad
Bitcoin slides below $30,000
Strong earnings results from corporates that outperform during economic expansion helped US futures on the , , and and European stocks rebound on Tuesday after Monday’s selloff.
The dollar was also trading in the green even as gold and silver were rising.
Global Financial Affairs
After a rout yesterday during which investors focused on and the spreading Delta variant of COVID-19, while disregarding dovish Fed rhetoric as well as strong earnings, investors, it seems, dug deep and have found new faith in the recovery.
We on Sunday that investors were consistent over the weekend and decided to pay attention to actual data and disregard the promise of continued stimulus—perhaps for the first time in a very long while. We were surprised they hadn’t considered positive earnings as an optimistic signal and posited they might be concerned that rising inflation and...read more...