First Call May 26, 2021
May 26, 2021
- S&P futures up 0.3% in Wednesday morning trading after US equities finished mostly lower on Tuesday, fading through the session following some initial gains.
- I hope everyone likes the extra charts section: Euro, GS reopening, GME short interest, USDCNH, Bitcoin on today's note.
- I am getting "meme'd" with my GME short. I am doubling side to 2% from 1% on the open today.
- Treasuries little changed across the curve following a rally yesterday in which 10-year yields fell below 1.60%.
- Dollar firmer vs yen and euro.
- Gold up 0.4%.
- Bitcoin futures up 6.4%, back above $40K.
- WTI crude down 0.3% but still up over 3.5% this week.