Risk On pre FOMC
Risk Assets were well bid out of the gate today as the Russell2k Index leading the way today +2% plus. Here is a quick late day snapshot of the markets Magnelibra covers:
US Treasury yields are down across the board led by the front end which is well bid as the 5Y is -6.6bp on the day:
Speaking of treasuries there has been massive support late in the day here as the 30Y cash bond on the run has jumped outside our range channel, suspect support out of ETFs and fast money:
Zerohedge posted this disposable income chart noting this is the worst decline since the depression and yes that is a decline round tripper from +$1T post covid stimulus to now liquidated completely out:
Ok stay diligent, we will be back for more!
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