Weekly Insight 04.13.21

highlights U.S. equity indexes closed higher on the week as the S&P 500, Dow Jones, and Dow Transports all finished at record highs on Friday. Even as markets traded to new all-time highs, there seemed to be a cautious undertone with more than $5B being yanked from the world’s largest ETF (SPY). Multiple sell-side firms…

Weekly Insight 04.6.21

highlights The S&P 500 added 6.62% in Q1 with all 11 sectors finishing higher, led by gains in “value” sectors. Volumes throughout the week were anemic despite Q1 drawing to a close, with Tuesday’s session being the lowest volume day of the year, breaking the prior low on 3/22/21. There were few surprises with the…

Weekly Insight 03.24.21

highlights U.S. equities finished most lower on the week after record setting performance by the Russell 2K, S&P 500, and Dow Jones Industrial the prior week. Treasuries came under further pressure as the 10-year yield climbed to its highest level since January 2020, topping 1.7%. WTI crude fell over 6% on the week amid short…

Weekly Insight 03.17.21

highlights U.S. equities finished at record highs last Friday (S&P 500, Dow Jones and Russell 2K) with all 11 sectors closing higher on a weekly basis. U.S. treasuries continued their climb higher as the 10-year yield moved past 1.6% as the 2-year/10-year spread touched its widest mark since 2015. It was a light week of…

Weekly Insight 03.10.21

highlights The Tech-heavy NASDAQ was the worst performing index for the week, falling more than 2% as investors saw growth names come under additional pressure, while value-related names rallied. Performance dispersion between growth and value widened, even as tech valuation premiums have narrowed from a January high. On Thursday, Fed Chairman Jerome Powell did little…

Weekly Insight 03.3.21

highlights The 10-year move as high as 1.61%, which was above the widely watched dividend yield of the S&P 500. With 96% of the Q4 earnings completed, S&P constituents are posting a nearly 4% y/y earnings growth. The ICE Bank of America MOVE Index saw its sharpest upswing in more than four months last week.…

Weekly Insight 02.23.21

highlights Broader U.S. benchmarks dropped with the continued backup in rates and rotation to value names. There was not anything specific behind the big backup in bond yields this week, which saw the 10-year note jump 15bps to 1.34%, and the 30-year rise to 2.13%, its highest level in more than a year. The S&P…

Weekly Insight 01.26.21

highlights Equities finished higher to end the shortened holiday week, led by the NASDAQ which gained over 4%. The big story throughout the week was the reversal of Value’s recent outperformance. Positioning in FANMAG (Facebook, Apple, Netflix, Microsoft, Amazon, Google) is at its lowest levels since mid-2019, following along with Bank of America’s Global Fund…

Weekly Insight 01.20.21

highlights The Russell 2K was the only index to buck broader selling pressures on the week as the Dow, SPX and NASDAQ all ended lower. Some of the most crowded shorts are up 10-20% already on the year, and a quick look at the Goldman Sachs most crowded short index shows the index is already…