Section I · The Eight
The eight markets,
examined.
A week in eight charts. Each card carries the day's print, the multi period returns that put it in context, and the one driver an Irish investor most needs to know about.
A week in eight charts. Each card carries the day's print, the multi period returns that put it in context, and the one driver an Irish investor most needs to know about.
Click any market to drill into its individual page, with fundamentals, news, filings, and a longer chart.
What today's tape, taken together, says about positioning into Wednesday's PCE print.
The eight markets today told a coherent risk on story with one important footnote. Five out of five equity indices closed (or are tracking) higher in their cash sessions outside Asia; the Nikkei's red close is on yen strength, not specific to Tokyo weakness. Add the dollar's softness, which lifted gold, and you've got a textbook reflation tape.
The footnote is the S&P pre market drift. Wall Street has been the highest beta of the eight to US data surprises this cycle, and Wednesday's PCE reading is the one number traders are positioning around. A hot print on core services, the only line economists are watching, would punish the rotation that built today.
The MW8 reading of 64 is consistent with that picture: confidently above neutral, deliberately short of euphoria. The market wants to go higher. It just won't, if Wednesday disappoints.
The MW8 reading, the eight prints, and one clear sentence on what to watch.