Market Snapshot November 25, 2019
Good Monday A.M.,
I hope you had a terrific weekend. I had the opportunity to see the new Disney Movie, Frozen 2 on both the regular screen and in 3D. I would encourage everyone to do the same so you can immerse yourself into magic of Disney on an opening weekend (the 3D version though is a bit better).
Trading and market activity will sloooow down considerably from today on through the rest of the week. Despite this being an active news and data week, traders take their holidays seriously and if not by now, certainly by later this afternoon, most trading desks will be manned by computers and junior associates. Therein lies the volatility. Low volume days tend to see increased volatility and not that it won’t be corrected if need be early next week, it is simply unlikely price gains would be passed through to rate sheets while any losses most assuredly will be. It’s a heads I win, tails you lose scenario this week. Best choice if possible is to not play. Still to be fair and report where things are today, stocks are up again on news that a phase 1 trade deal is ever so close. Bonds are doing surprisingly well given the Dow is up with the 10-yr at 1.76%.The concern continues to be that if equities continue to rally bonds will break and it could get ugly.
Make today great!