Dollar & Stocks Bid To Start H2, Crypto Bounce Crumbles

Small Caps led the market to start the second half of the year and Nasdaq lagged…

Stocks extended their recent bounce, but Smart money wasn’t buying it…

Source: Bloomberg

Or put another way…

 

Value outperformed growth to start H2, pushing back into the green for the week…

Source: Bloomberg

Bonds ended spectacularly unchanged today after a modest rally across the cash equity open was quickly rebuffed….

Source: Bloomberg

The dollar extended its recent rebound…

Source: Bloomberg

The brief bounceback in crypto has faded to start the second half of the year with Bitcoin testing back down to $33k and Ether hovering around $2100…

Source: Bloomberg

Copper and Crude diverged again today (copper down as crude rallied) while PMs trod water…

Source: Bloomberg

WTI swung around wildly on OPEC+ headlines…

Gold also managed to hold on to some gains today…

Finally, stagflationary threats are looming large with ISM’s Manufacturing survey signaling weakening production as prices paid scream near record highs…

Source: Bloomberg

That’s not what’s supposed to happen!!