Morning 7-21

European Bourses are trading higher 18-19 Stoxx 600 sectors higher led by banks, Autos and retail European bond yields little changed. Politico: EU leaders agree on a recovery fund made up of €390b in grants & €360b of loans attached to a new €1.075T seven year MFF, total package is worth €1.82T

   Dollar index DXY traded below important area of 95.71  Gold on the bid  +1% Silver on the bid as well  +5.7%!!  traded  above psychological $20 yesterday now above $21!!   Aussies Dollar +1%,Krone +.7%,peso +.61%  Weaker dollar=Risk On

 All about Stimulus and Vaccine headlines, doesn’t really matter if there isn’t much truth or facts behind them this is what the market wants to hear and will run with any Slightly positive headline  from Politico”

While top Trump administration officials publicly suggested Monday that the tax cut would be included in the GOP’s plan, Senate Republicans are expressing deep reservations. … Senate Majority Leader Mitch McConnell (R-Ky.) hasn’t tipped his hand in private on whether the payroll tax cut will be included in the GOP proposal. … Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows are expected to attend the Senate GOP lunch Tuesday.”

 Weaker dollar the New normal? With European Deal now signed and the member states working  with one voice  things look a  bit better for Europe and the euro  compared to the chaos here in the USA???  


  • UBS: Q2 Net Income €1.23b vs €973m cons; Q2 sales
  • -IBM: Q2 Op EPS $2.18 vs $2.12 cons; Q2 rev $18.12b vs $17.54b cons
  • Fauci will throw  out the First pitch at nationals game
  • Mnuchin will meet with Pelosi today

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.