Professional Documents
Culture Documents
Market Commentary
STOCKS
Americas:
Dow (Fut)
S&P500 (Fut)
EuroStoxx50 (Fut)
FTSE 100 (Fut)
Status
0.18% 18487.0
0.17% 2180.5
(Opn)
(Opn)
0.74%
0.01%
2992.0
6741.5
(Opn)
(Opn)
2.44% 16650.6
1.57% 22494.8
(Clsd)
(Clsd)
Asia:
Nikkei 225
HangSeng
OPTIONS
VIX (Index)
BONDS
3 Mth Yld
2 Yr Yld
10 Yr Yld
FX
Euro
Pound
Aussie
Yen
COMMODITIES
Oil
Gold
0.17 pts
11.56
(Opn)
0.01%
0.00%
0.00%
0.26%
0.73%
1.59%
(Opn)
(Opn)
(Opn)
% Chg vs USD
$-
$-
$-
0.00%
1.109
-0.07%
1.306
0.24%
0.764
-0.57% 102.400
1.51%
42.43
-0.12% 1333.89
Source: Bloomberg
Source: Bloomberg
2200
2100
2050
2000
29-Jul
15-Jul
1950
2150
1-Jul
16
14
12
10
8
6
4
2
-
17-Jun
Shares (Billions)
Prior
-1.9
Source: Bloomberg
Level
Europe:
% Chg
3-Jun
MARKET UPDATE
NY Time: 7:50 AM
20-May
With earnings winding down (~77% of S&P500 has reported) and not
much major macro on the US calendar (highlights will likely be Retail
Sales, PPI, and U-Mich), we may be in line for a light week. Volume last
week was slightly below the 100 day average. Asia and European
equities are helping the cause, with Japans Topix +2% and SHCOMP
+93 bps. Chinas trade balance came in with a higher surplus than
expected, with both exports (-4.4% vs. -3.5% expected) and imports (12.5% vs. -7.0% expected) coming in light. Reminder: China CPI and
PPI data will be released tonight. In Europe, volumes are light overall,
but up in the Healthcare and Insurance spaces. On the data side,
German IP rose 0.8%MoM in June versus - 0.9% in May. Other core
Europe IP reports (including Eurozone) will be released later this week.
In commodities, crude is +1.8%, possibly on comments from Qatars
energy minister that the current decline in oil prices is temporary, and
that he expects higher levels in 2H. According to Bloomberg, Russia
sees no need for renewing discussion of an oil-output freeze at current
crude prices, while leaving open the possibility for the future, and didnt
rule out speaking with his counterparts from OPEC member states at
the meeting of the International Energy Forum in Algiers on Sept. 26-28.
6-May
22-Apr
8-Apr
North America
Printable Version:
.
1900
Source: Bloomberg
Page 1 of 3
US Trading Daily
8 August 2016
Chart of the Day: June Hedge Fund Outflows Largest Since December (Victor Lin)
Activity on our desk was 73% for sale and hedge funds were 84% of our flows
Hedge funds were selling Large Cap (SPY), Transports (IYT), Gold (GLD), and Dividends (SPHD) via ETF Nitro; buying Small
Cap (IWM) and Mexico (EWW) via ETF Nitro
Institutions were selling Gold (GLD), Small Cap Growth (IWO) and Silver (SLV); buying Hedge Japan (HEWJ) and High Yield
(JNK, HYG, HYS).
ETF flows ended the week on a positive note, led by Small Cap (IWM +$1b)the largest inflow in a month
High Yield had its second straight day of inflows (HYG +$196mm, JNK +$72mm) following a seven-day streak of net outflows
Friday capped a big week for Gold (GLD +$307mm), bringing in $1b for the week overall
We saw a large switch from Growth (IWF -$247mm) to Value (IWD +$371mm)
Europe ETFs finished the week in negative territory again (HEDJ -$92mm, VGK -$62mm.
Victor Lin
415-836-7643
victor.lin@credit-suisse.com
Ana Avramovic
212-325-2438
ana.avramovic@credit-suisse.com
Meera Krishnan
meera.krishnan@credit-suisse.com
Josh Lukeman
} 212-325-3205
josh.lukeman@credit-suisse.com
Justin Bojarski
justin.bojarski@credit-suisse.com
Rob Bernstone
212-325-3205
robert.bernstone@credit-suisse.com
Michael Strongin
212-325-3205
michael.strongin@credit-suisse.com
Justin Waluch
212-325-3205
justin.waluch@credit-suisse.com
212-325-7421
john.dwyer@credit-suisse.com
Futures
James Mckeever
james.mckeever@credit-suisse.com
Kevin Koenig
} 212-325-7764
kevin.koenig@credit-suisse.com
John Dwyer
Page 2 of 3
US Trading Daily
8 August 2016
Aunrie Dash
aunrie.dash@credit-suisse.com
Ron Cherry
ron.cherry@credit-suisse.com
Derivative Sales
Tim Scanlon
Special Situations
Tom Bruno
212-325-5227
tim.scanlon@credit-suisse.com
Interest Rates
212-325-3684
tom.bruno@credit-suisse.com
Praveen Korapaty
212-325-3427
praveen.korapaty@credit-suisse.com
Cash
Laura Prostic
212-325-2147
laura.prostic@credit-suisse.com
Page 3 of 3