Saxo Market Call

US yields drop on oil plunge fueling Nasdaq 100 to new all-time high

July 7, 2021

Today's slide deck: https://bit.ly/2Vk5EUd   - 

A 5% plunge in oil prices yesterday took more steam out of the inflation trade sending the US 10-year yield to a fresh low hitting late February levels. The move caused Russell 2000 to decline and fueled a rally in Nasdaq 100 to a new all-time high. In equities the big story is China's crackdown on Didi Global that listed in the US last week despite warned by Chinese regulator to wait. In today's podcast we also cover Samsung earnings, attractiveness of gold, USDJPY move on US yield drop, and the upcoming G20 meeting on Friday and Saturday in Venice. On today's podcast are Ole Hansen on commodities and Peter Garnry hosting and on equities.

Intro and outro music by AShamaluevMusic

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