D&D Note (1.22.2018) ~ Feb 8th Replay
Congress today passed a short term kick the can down the road bill to reopen the government shutdown. That road is short leading to February 8th were we’ll get a replay of will they will they not fund the government. Included in this bill is a promise from the GOP to do… something… about DACA and immigration.
Interest rates continue to rise and the 10YR is holding above the past resistance level of 2.63%. Now the question is how fast will rates rise up to 3%. Don’t forget we still have the FED looking to continue hiking rates which will push the yield on bonds further higher. The other headwind in the next couple months is global inflation.
Volatility has fallen again and the VIX is hovering around 11. With Washington pushing the funding showdown out to Feb 8th we might not see volatility spike again until then.
Crypto is seeing further downward pressure with Bitcoin trading under $11,000 and Ethereum trading under $1,000. Vanguard weighed in on Bitcoin saying that you’ll never see them create a fund for the cryptocurrency.
Netflix earnings will be under close scrutiny after the closing bell. As always subscriber numbers specifically international will be the key focus. Options markets have an implied move up or down of 8%.
In the realm of oil production the USA has now surpassed Saudi Arabia and is the worlds #2 supplier.
D&D movers:
– EMHTF up 13.30%
– UNLRY up 9.37%
– CNTTF up 4.99%
– AAPL down -0.82%
– TTM down -0.66%
– HON down -0.09%
Indexes
– DOW up 0.55%
– NASDAQ up 0.98%
– S&P up 0.81%
Sector Movers:
– Telecom up 2.35%
– Energy up 2.10%
– Consumer Discretionary up 1.09%
– Materials down -0.21%
– Industrials down -0.03%
Notes
– US 2-YR 2.069% (up 0.008)
– US 10-YR 2.657% (up 0.018)
– US 30-YR 2.919% (up 0.007)
Volatility
– VIX 11.07 (down -1.77%)
Crypto (1:00 PST)
– BTC $10,195.18
– ETH $945.16
– BCH $1,544.01
– LTC $170.26
Metals
– Gold $1,334.20 (up 0.08%)
– Silver $17.051 (down -0.12%)
– Copper $3.202 (up 0.45%)
Energy
– Oil $63.66 (up 0.19%)
– Brent $69.24 (up 0.92%)
– Nat Gas $3.243 (up 1.82%)
D&D Investments 
Discussion
No comments yet.