- S&P futures little changed in Wednesday morning trading after US equities finished mostly lower in the prior session with growth snapping a seven-day streak of outperformance vs value. REITs and tech were among the laggards while energy jumped over 2%.
- It's all about the Fed meeting today and the press conference at 2:30pm ET
- Asian markets mostly lower overnight with China down over 1%. - charts of Shanghai, Hong Kong, and FXI on this note
- I am adding FXI as a new short idea today
- European markets modestly higher overall.
- Treasuries are unchanged to a touch firmer out the curve with 10-year yields back below 1.50%. - chart on this note
- Dollar slightly better vs euro and slightly weaker vs yen.
- Gold flat.
- Bitcoin futures down 2.3%, back below $40K. - A couple of charts on this note
- WTI crude up 0.3%.
- I will be posting a late Daily Note in the last hour after the Fed meeting.
First Call June 16, 2021
