Week In Review – June 8

Summary

  • Good week for U.S. equities with Dow outperforming
  • Next stop on the S&P500 is 2801.90 and then the all-time high
  • We are better sellers up there into the fall as the Fed’s balance sheet reduction steps up, which will limit the central bank’s participation in Treasury auctions. WATCH THIS SPACE
  • Euro periphery sovereign credit continues to weaken
  • Unicredit continues to slide
  • EM better at the week’s close as Argentina enters biggest IMF package in history, but pressure will continue
  • Copper up over 6 percent on the week
  • Big week coming: NorKo summit, Treasury auctions, FOMC, and the ECB

 

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