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Daily Market Data Dump: Monday

Takeaway: A closer look at global macro market developments.

Editor's Note: Below are complimentary charts highlighting global equity market developments, S&P 500 sector performance, volume on U.S. stock exchanges, and rates and bond spreads. It's on the house. For more information on how Hedgeye can help you better understand the markets and economy (and stay ahead of consensus) check out our array of investing products

 

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Daily Market Data Dump: Monday - equity markets 6 27

 

Daily Market Data Dump: Monday - sector performance 6 27

 

Daily Market Data Dump: Monday - volume 6 27

 

Daily Market Data Dump: Monday - rates and spreads 6 27

 

Daily Market Data Dump: Monday - currencies 6 27


Our Favorite Macro Call Continues To Pummel The S&P 500

Our Favorite Macro Call Continues To Pummel The S&P 500 - tlt say cheese

 

Got #GrowthSlowing?

 

The bond market does. The 10-year Treasury yield hit an all-time low Friday on the heels of the historic Brexit vote and as the flight to safety trade continues as global growth slows.

 

Here's analysis via Hedgeye CEO Keith McCullough in a note sent to subscribers earlier this morning:

 

"Our favorite ways to play both US and Global #GrowthSlowing in 2016 continues to be the Long Bond, Gold, and Safe Equity Yields (like Utes) that look like bonds; UST 10yr = all-time lows this a.m. at 1.46% as UK 10yr drops another -13bps breaking 1.0% at 0.96%."

 

Below is a chart of the 10-year Treasury yield Going back to 1962. 

 

Our Favorite Macro Call Continues To Pummel The S&P 500 - 10yr all time low

 

 

For those of you keeping score, here's a look at the year-to-date scorecard of our favorite Macro call, long the Long Bond (TLT), versus the S&P 500:

 

  • TLT: +12.6%

  • S&P 500: -0.32%

 

MORE TO COME...


CHART OF THE DAY: Sector Scorecard | What's Working In 2016

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more. 

 

"... If all you do is US Equities, did someone say underweight (short) the Financials vs. Utilities in 2016?

  1. Financials (XLF) hammered on Friday, losing another -5.4% to down -7.3% YTD
  2. Utilities (XLU) did their job for our clients, closing +0.6% on a very red day for Equity Beta at +16.9% YTD"

 

CHART OF THE DAY: Sector Scorecard | What's Working In 2016 - 06.27.16 chart


the macro show

what smart investors watch to win

Hosted by Hedgeye CEO Keith McCullough at 9:00am ET, this special online broadcast offers smart investors and traders of all stripes the sharpest insights and clearest market analysis available on Wall Street.

REPLAY! This Week On HedgeyeTV

Our deep bench of analysts take to HedgeyeTV every weekday to update subscribers on Hedgeye's high conviction stock ideas and evolving macro trends. Whether it's on The Macro ShowReal-Time Alerts Live or other exclusive live events, HedgeyeTV is always chock full of insight.

 

Below is a taste of the most recent week in HedgeyeTV. (Like what you see? Click here to subscribe for free to our YouTube channel.)

 

Enjoy!   

 

1. REPLAY | The Aftermath: Post-Brexit Market Analysis with Keith McCullough & Daniel Lacalle (6/24/2016)

 

***In light of momentous, market-moving events surrounding Britain's decison to LEAVE the EU ... we opened up the The Macro Show for free this morning. Renowned European economist and market strategist Daniel Lacalle joined Hedgeye CEO Keith McCullough one-on-one to discuss the implications.

 

 

BRIEF BIO ON DANIEL LACALLE

Lacalle is a European economist, who previously worked at PIMCO and was a PM at Ecofin Global Oil & Gas Fund and Citadel.  He is the author of Life In The Financial Markets and The Energy World Is Flat and a lecturer for the IE Business School and Master MEMFI at UNED University. He is currently CIO of Madrid-based Tressis Gestion.

 

2. The Irony Behind The Fed’s Inflation Target (6/23/2016)

 

 

In this excerpt from The Macro Show earlier today, Hedgeye U.S. Macro analyst Christian Drake explains why hitting the Fed’s 2% inflation target would be a “tax on consumers” given the rising, inflationary pressures associated with rent inflation.

 

3. Did You Catch Janet Yellen’s ‘Crazy’ Response on Zero Rates? (6/22/2016)

 

 

In this brief except from The Macro Show this morning, Hedgeye CEO Keith McCullough weighs in on a head-scratching moment between Fed chair Janet Yellen and Sen. Pat Toomey (R-PA) during her testimony before the Senate Banking Committee.

 

4. McCullough: The Most Consensus Macro Position Right Now May Surprise You (6/21/2016)

 

 

In this brief excerpt from The Macro Show earlier today, Hedgeye CEO Keith McCullough discusses consensus positioning and explains why the S&P 500 is now the most overbought position in all of macro.

 

5. Does Trump Lack The Cash (And Campaign Organization) To Beat Clinton? (6/20/2016)

 

 

Hedgeye Potomac Chief Political Strategist JT Taylor takes a looks at cash concerns inside the Trump campaign, and what the firing of controversial campaign manager Corey Lewandowski means going forward.

 

6. Casteleyn: Why WisdomTree Still Has 50% Downside | $WETF (6/20/2016)

 

 

Shares of WisdomTree (WETF) are down over 35% since Hedgeye Financials analyst Jonathan Casteleyn issued his short call earlier this year. In this excerpt from The Macro Show this morning, he explains why WisdomTree funds are hemorrhaging money and are overly dependent on easy money.


This Week In Hedgeye Cartoons

Our cartoonist Bob Rich captures the tenor on Wall Street every weekday in Hedgeye's widely-acclaimed Cartoon of the Day. Below are his five latest cartoons. We hope you enjoy his humor and wit as filtered through Hedgeye's market insights. (Click here to receive our daily cartoon for free.)

 

Enjoy!

 

1. Shot In The FTSE (6/24/2016)

This Week In Hedgeye Cartoons - Brexit Footsie cartoon 06.24.2016

 

The Brexit vote has set off a massive wave of selling in global equities.   

  

2. Yellen's Flock (6/23/2016)

This Week In Hedgeye Cartoons - Yellen cartoon 06.23.2016

 

"In what seemed like an exasperating moment for the Fed Chair yesterday, when Senator Pat Toomey (PA) asked Janet Yellen if she’d yet considered that 0% rates might be a bad thing in the years 2017 and beyond… she answered 'No.' Wow," Hedgeye CEO Keith McCullough wrote in a recent Early Look.

 

3. Enough Already! (6/22/2016)

This Week In Hedgeye Cartoons - Brexit cartoon 06.23.2016

 

It's nauseating how much the mainstream media talks about Thursday's U.K. referendum.

 

4. Chum (6/21/2016)

This Week In Hedgeye Cartoons - consensus cartoon 06.21.2016

 

The most consensus macro position right now is long the S&P 500.

 

5. Short-Sighted (6/20/2016)

This Week In Hedgeye Cartoons - Brexit cartoon 06.20.2016

 

Investors caught up in Brexit risk can't see the forest for the trees.

 

"Our long-cycle call for #GrowthSlowing won’t die this morning either," Hedgeye CEO Keith McCullough wrote in this morning's Early Look. “No Brexit” or not, it’s booked until at least Q3/Q4 when macro markets have fully priced it in."


The Week Ahead

The Economic Data calendar for the week of the 27th of June through the 1st of July is full of critical releases and events. Here is a snapshot of some of the headline numbers that we will be focused on.

 

CLICK IMAGE TO ENLARGE.

The Week Ahead - 06.24.16 Week Ahead


Daily Trading Ranges

20 Proprietary Risk Ranges

Daily Trading Ranges is designed to help you understand where you’re buying and selling within the risk range and help you make better sales at the top end of the range and purchases at the low end.

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