
Debriefing FRIDAY 30th Dec 2022 and Today’s Journal-First Day of the trading year

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The theme in markets for a significant portion of 2022 was “buy the dollar, sell everything else.” Additionally, as the year came to a close and the possibility of a Fed pivot increased, the tables began to turn.
To start the year off right, however, stocks and bonds are bid today, but this is also leading to a higher dollar as flows take precedence over the dominant narrative that we became so accustomed to last year.
- Eurostoxx +1.4%
- Germany DAX +1.3%
- France CAC 40 +1.2%
- UK FTSE +2.0%
- S&P 500 futures +0.9%
- Nasdaq futures +0.9%
- Dow futures +0.8%
- 10-year Treasury yields are down 8.7 bps to 3.745%
- 10-year German bond yields are down 8.2 bps to 2.357%
- 10-year Italy bond yields are down 10.5 bps to 4.447%
DATA
08:55 EUR German Unemployment Change (Dec) -13K 15K 15K
08:55 EUR German Unemployment Rate (Dec) 5.5% 5.6% 5.6%
09:30 GBP Manufacturing PMI (Dec) 45.3 44.7 46.5
53 min EUR German CPI (MoM) (Dec) -0.3% -0.5%
53 min EUR German CPI (YoY) (Dec) 9.1% 10.0%
14:45 USD Manufacturing PMI (Dec) 46.2 47.7
Saxony December CPI +8.7% vs +9.9% y/y prior
We only have Manufacturing PMI (Dec) to contend with today.
Tuesdays’ Data
Update and Monday’s Plan
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Quote Of the Day
“A man cannot be convinced against his own convictions, but he can be talked into a state of uncertainty and indecision, which is even worse, for that means that he cannot trade with confidence and comfort.”
― Jesse Livermore,
Trade Well And Prosper.
BT
