FAST FIVE: Bonds, Bitcoin, Tech Stocks, & Dollar Jump As US Macro Data Dumps Ahead Of Fed
NOTE – Cable is getting very close to a key support level – we have closed lower on only one day since April 2017 Yuan continues to be well managed in an extremely tight range.
Cryptos are all higher over the weekend with Bitcoin leading the way.
Finally, we note that – after this morning's record crash in Empire Manufacturing – all six sub-sectors of the US economic data surprise index are now in the red.
That NY Fed Empire index is consistent with a contractionary 48.4 reading on the ISM, as an aside.
While the market sis less confident of a rate-cut this week (%), it is practically convinced The Fed will cut in July.