First Call

First Call May 26, 2021

May 26, 2021

Thomas Thornton

  • 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.
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