Today was a very flat day for the market and ES, taking that in to consideration, ES is even flatter tonight thus far, I've never seen anything like it.
I can't imagine that so many traders are unwilling to take any position before tomorrow's NFP (Non Farm Payrolls).
If you thought regular hours were flat, check out after hours, near linear.
I also find it interesting that neither the European (especially) or the US markets rallied on the BTP and other sovereign yields coming down, especially after a day like Wednesday. It's all very strange.
The calm before the storm? If so, there are few times I have seen the market as flat as it was nearly across the board, but I've never seen ES this flat and volume, forget it, there isn't any.
There's not much more to say, just a lot of digging to do. If I unearth anything you haven't already seen, you'll be the first and only ones to know.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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