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“Super Thursday” looms over the markets and a patient Fed
US equities ended last week on a strong note and the mixed NFP report lifted global indices to a new all-time high. As US bond yields sunk, so growth / tech took the lead and cyclicals outperformed defensives. The Vix has fallen to 17 and financials underperformed. European markets look poised for more record highs. USD is endeavouring to claw back some losses after Friday’s selloff. EUR got close to 1.21 on Friday morning but bounced strongly while GBP dropped below 1.41 before rebounding back into the range. “Super Thursday” looms with multi-year and multi-decade prints in US inflation numbers. Market ... (full story)