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<p>The U.S. Treasury's sold $18B of 10-year TIPS at a high yield of 1.810%:</p><ul><li>High yield 1.810%</li><li>WI level at the time of auction 1.825%</li><li>Tail -1.5 basis points vs six-month average of -1.6 basis points</li><li>Bid to cover 2.62X vs six-month average of 2.49X<

<p>The geopolitical situation in Israel/Gaza along with the Russia Ukraine (and China/Taiwan), are risk events that could upset apple carts in 2024. </p><p>In Israel, risks come from Iran's involvement, supply shocks from the Houthi terrorism in the Red Sea, and the general escalation of hatred as a result of the polarizing w

<p>The EURUSD yesterday moved down to test its 200-day moving average at 1.0846. The low price reached 1.0842 before bouncing to the upside. The subsequent move to the upside yesterday and into the Asian session today sniffed its falling 100 hour moving average currently at 1.0905. However, it found willing sellers after the initial jobless [

<ul><li>Open to starting rate cut before July if there is convincing evidence inflation is is long faster than he anticipates</li><li>Repeat baseline is for rate reductions starting in Q3, with care needed not to cut Toussaint and risk renewed demand and price pressures</li><li>size possibility conflicts around t

<p>Atlanta Fed Pres. Bostic will be speaking ahead.</p><p>Earlier today he was also speaking and</p><ul><li>emphasized his desire to see more concrete evidence that inflation is on a trajectory towards the 2% target. </li><li>He warned that the worst outcome would be to prematurely cut interest rates,

<p>Major European stock indices are ending the day with gains snapping 2-day declines</p><ul><li>German DAX rose 0.83%</li><li>France CAC rose 1.13%</li><li>UK FTSE 100 rose 0.17%</li><li>Spain's Ibex rose 0.13%</li><li>Italy's FTSE MIB rose 0.83%</li></ul>

<p>The Atlanta Fed GDPNow growth estimate for Q4 reached 2.4%. That is unchanged from yesterday's reading. </p><p>IN their own words:</p><blockquote>The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.4 percent on January 18, unchanged from January 17

<p>The AUDUSD trended lower this week, but did find support buyers yesterday, against a swing level against 0.65229. Below that level is the rising 100-day moving average at 0.65101. The subsequent rally today so the boys move up and retest the broken 50% midpoint of the move up from the October low to the December […]

<p>The USDCHF trended higher this week, and yesterday extended above the 200 bar moving average on the 4-hour chart, and the 38.2% retracement of the move down from the early November high to the December low. However, after peaking at 0.8685, the price started to retrace, and in the early Asian session today the 38.2% […]

<p>The major US stock indices are mixed in early US trading. A snapshot of the market currently shows:</p><ul><li>Dow Industrial Average -83.40 points or -0.22% at 37185.50</li><li>S&amp;P index up 20.63 points or 0.45% at 4760.50</li><li>NASDAQ index is leading the way with a gain of 155 points o