July 7, 2021 - Page 2 of 2 - Financial Occultist

Minutes to the June 15-16 meeting are due at 1800 GMT.

At the meeting (in a very brief summary)

members moved forward expectations for rate hikes
talked about tapering asset purchasing

The minutes will be scoured for further indications around timing of tapering QE, also risks to the economic outlook that may delay tapering (and on the flip side, what may shift it forward).

The buying of USTs (lower yields) may be indicative that the bond market is seeing risks of having hit ‘peak growth’, or that inflation is indeed transitory (these are two possibilities for the bond market bid amongst countless other explanations out there). Perhaps the minutes will shed more light on what the Federal Open Market Committee is thinking.

Silver’s “Fibonacci Spiral” that matters! Gonna be quite explosive.

07-Jul-21 05:48 am

Anirudh Sethi

Waiting for the oil inventory data? It’ll be a day late this week due to the US holiday Monday

07-Jul-21 05:47 am

Anirudh Sethi

The private survey of oil stocks (and gas, distillates) is usually Tuesday afternoon US time

With official govt data on the same following along the next morning.

With the US holiday on Monday (July 4 Independence Day observance on July 5) both will be a day late this week. Hold tight, its on the way!

S&P snaps seven-day winning streak

07-Jul-21 05:28 am

Anirudh Sethi

NASDAQ closes at a new record for the third consecutive day

The US major indices are ending the session with mixed results:

NASDAQ posts a record close for the third consecutive day
S&P index snapped a seven day winning streak
Dow industrial average led the way to the downside

The major indices are closing the session with mixed results. The mega growth companies of the NASDAQ index were the better relative performers. Oil reached a new cycle high and highest level since 2014, only to rotate back to the downside and close negative. US yields moved lower with the 10 year moving to a low of 1.352%.

The final numbers are showing: