Trading Insights

🌐 Macro Snapshot — What’s Driving Markets

  • Elevated US Yields: Liquidity tightness from high TGA + low RRP continues pressuring rates.

  • Divided Fed: December rate cut uncertain; Treasury reinvestments resume Dec 1.

  • Labor Market Weakness: NFP expected at 52K—improving but still soft.

  • Liquidity Asymmetry: Big banks hold reserves; regional banks remain constrained.

  • Credit Stress: Rising spreads increase urgency for lower benchmark rates.

  • AI Momentum: Nvidia’s blowout quarter solidifies AI as dominant equity driver.

  • Crypto Reaction: ETH lifted by improved risk sentiment but remains rate-sensitive.

  • Metals Range-Bound: Gold and silver consolidating until macro catalysts return.

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