Charles-Henry Monchau

Chief Investment Officer


 PDF


 

WEEKLY SUMMARY: Bonds, bullion, & bitcoin rose on bad macro data

Most U.S. equity indexes finished the holiday-shortened week higher. The Nasdaq Composite finished the week 1.14% higher, supported by shares of Apple and Google parent Alphabet, which both rose in the wake of an antitrust ruling that some investors viewed as less severe than expected. Smaller-cap stocks, which can be more sensitive to interest rate movements than larger companies, also advanced for the week. The S&P 500 Index added 0.33%, while the Dow Jones Industrial Average lost 0.32%. The week’s economic calendar brought several reports that painted a bleak picture of the health of the U.S. labor market. The closely watched report revealed that U.S. employers added just 22,000 jobs in August, a sharp decline from July’s revised figure of 79,000 and well below estimates for around 77,000. As of Friday afternoon, futures markets tracked by the CME FedWatch tool were pricing in a 100% chance of at least a 25-basis-point rate cut at the Fed’s next meeting. Manufacturing activity shrinks for sixth straight month; services sector expands. In Europe, the STOXX Europe 600 Index ended 0.17% lower amid concerns about global growth after weak U.S. jobs data and a stronger euro. Japan’s stock markets rose over the week, with the Nikkei 225 Index gaining 0.70% and the broader TOPIX Index up 0.98%. Mainland Chinese stock markets declined as investors pocketed gains after a recent rally. The dollar ended the week practically unchanged. Oil prices plunged to their lowest in three months. Gold surged up to a new nominal record high. 

Have a great week-end

Charles for the team 




 
 




 

Disclaimer

This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.

Read More

Straight from the Desk

Syz the moment

Live feeds, charts, breaking stories, all day long.

Thinking out loud

Sign up for our weekly email highlighting the most popular posts.

Follow us

Thinking out loud

Investing with intelligence

Our latest research, commentary and market outlooks