Two for two

Volatile days are like late-night buses:  None for ages and then a bunch come all at once.   The SPX registered its second 1% day in a row on Friday, this time on the positive side of the ledger.  With the weather looking good on both sides of the Atlantic, it's not hard to see a scenario where normal service is resumed and the market grinds higher for another few weeks as punters head off to the beach.

Macro Man is lacking a bit of inspiration ce soir, so he will merely point out the interesting fact that the bellwether EDZ5 contract, widely watched to gauge the extent of expected Fed tightening next year, closed last Friday at 98.96.....a mere one tick higher than the contract closed on the equivalent Friday two years ago.   So much for rolldown, so much for volatility.....




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abee crombie
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July 21, 2014 at 1:36 PM ×

There's always a bull market somewhere!

Shall we not delve into the EM Equity space and discuss what appears to be a turning consensus on the space. And for the more adventurous, Indian equities! While the Sensex has run up a lot since India was thrown out of the BRICs and into the Fragile Five, I think it still has room to run until Modi invevitiably runs into to roadblocks to "sell the news". Kinda like the Japan Abee trade or similar move in MXN.

Any thoughts?

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Anonymous
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July 23, 2014 at 8:06 AM ×

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