First Call

First Call March 1, 2021

Mar 1, 2021

Thomas Thornton

  • S&P futures up 1.0% in Monday morning trading after US equities came under pressure last week with growth and momentum meaningfully underperforming value and cyclicals with the backup in bond yields.
  • Covering BRK/B with a 1% gain - no surprises with earnings
  • I am adding for First Call note going forward the Euro Stoxx 600 DeMark Observations
  • Asian markets rallied overnight with Japan's Nikkei and China's Shenzen the standouts, both up nearly 2.5%.
  • European markets seeing good gains.
  • Treasuries are mostly stronger with the rally in global sovereign bonds. Belly of the curve outperforming while the long end weaker.
  • Dollar firmer vs yen and euro.
  • Gold up 0.8%.
  • WTI crude up 0.9%, a bit off best levels.
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