First Call

First Call January 26, 2021

Jan 26, 2021

Thomas Thornton

  • S&P futures up 0.1% and off worst levels in Tuesday premarket trading.
  • More market nonsense continuing with speculative stocks rallying again
  • Asian equities came under big pressure overnight with Hong Kong down more than 2.5% and China offer just over 1.5% after PBOC withdrew liquidity and a central bank adviser warned about asset bubbles.
  • European markets seeing good gains.
  • Treasuries mostly weaker with some curve steepening following yesterday's rate rally.
  • Dollar not doing much on the yen and euro crosses.
  • Gold down 0.1%.
  • WTI crude up 0.8%.
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