top of page

Daily Close

Bonds had a bad day on Thursday with 10 year yield climbing to 2.78% (+7bps) and bitcoin ... a terrible one, shedding 14% (falling to its lowest level this year) after India said it does not consider bitcoin (or cryptocurrencies more generically) as legal tender. Stocks tried to hold a straight face, closing mostly unchanged again after a volatile session. Cross asset correlation is firmly on the ris e which exacerbates the deleveraging process.   Some are calling 3% on 10year US treasuries the threshold of pain for stocks. Rather than a line in the sand, rising cross asset correlation is the real warning that investors are taking note of. Despite rising yields (usually supportive), the dollar index , dropped -0.5%, not helped by Goldman jumping on the bearish wagon calling  for 1.30 on EURUSD for year end.  The job report is due out today. Overnight, the s&p dropped 6points. 

BentinPartner Advisers, Basel There is more to our research than the Daily Close, the Confidometer and our blog posts. To receive actionable content, a comprehensive wrap up every day and our tactical FX and global models positioning or if you wish to be notified 24/7 with updates on key macro economic releases and/or technical breaches on our comprehensive investment universe covering international equities, bonds, FX, precious metals and commodities, take a free trial to the Bentin Daily, our premium research service. We help you know when to run and when to sit by tracking all developing (or well established) trends and equally importantly by flagging market breakouts. You may join our free trial by clicking here. We are leaving no stone unturned. Important Disclaimer © Copyright by BentinPartner llc. This blog is not intended as a recommendation, an offer or solicitation for the purchase or sale of any security or underlying asset referenced herein or investment advice. Investors should seek financial advice regarding the suitability of any investment strategy based on their objectives, financial situation, investment horizon and particular needs. This blog does not include information tailored to any particular investor. It has been prepared without any regard to the specific investment objectives, financial situation or particular needs of any person who receives this report. Accordingly, the opinions discussed in this blog may not be suitable for all investors. You should not consider any of the content in this report as legal, tax or financial advice. The data and analysis contained herein are provided "as is" and without warranty of any kind. BentinPartner llc, its employees, or any third party shall not have any liability for any loss sustained by anyone who has relied on the information contained in any publication published by BentinPartner llc. The content and views expressed in this report represents the opinions of Marc Bentin and should not be construed as guarantee of performance with respect to any referenced sector. We remind you that past performance is not necessarily indicative of future results. Although BentinPartner llc believes the information and content included in this report have been obtained from sources considered reliable, no representation or warranty, express or implied, is provided in relation to the accuracy, completeness or reliability of such information. This blog is also not intended to be a complete statement or summary of the industries, markets or developments referred to in the blog.  

9 views0 comments

Recent Posts

See All
bottom of page