Morning Notes

07/01/2019 - Argonaut Morning Note

Market Update: 

US equities jumped sharply overnight on good news from the jobs market and after the Fed chair indicated policy is flexible and officials are “listening carefully” to financial markets; US Non-farm payrolls were 312,000 (compared to an estimate of 184,000); the US unemployment rate is 3.9%; Expectations that there may be a pause in Fed interest rate increases sent the US$ lower against most major currencies; The Dow climbed 747 points (+3.3%) on Friday, more than erasing the 660 point decline the previous day; The US and China start trade talks this week against a background of economic concerns and market jitters; The PBOC trimmed banks’ required reserves (RRR) by 1% in the hope the >US$100b released will help Chinese liquidity and boost the slowing economy; The US Government remains in shutdown as Trump threatens the use of emergency powers.

Please read Argonaut's Important Disclaimers & disclosures

Log in to the client area below to download the full Morning Note PDF

Argonaut Morning Note 



Google+