Strained Sentiment
Hey team. The S&P 500 broke its two-week winning streak as geopolitical tensions reached a boiling point.
Today we’re sharing the latest data, evaluating market conditions and more.
Impact Snapshot
Retail Sales - Tuesday
Unemployment Claims - Wednesday
FOMC Rate Decision- Wednesday
US Markets Closed - Thursday
Macro Viewpoint
It’s been a turbulent week, marked by a mix of developments. While there were signs of progress in the US-China talks, the mood shifted sharply on Friday following reports that Israel had launched strikes on Iran—prompting a turn toward risk-off sentiment.
US stocks traded broadly lower on Friday with the S&P 500 down -0.4% on the week, as investors have been digesting weaker than expected inflation reports alongside elevated geopolitical risk.
Looking ahead, it’s a shortened trading week with US equity and treasury markets closed on Thursday in observance of Juneteenth. The main focus will be global central bank decisions.
Still, developments in the Middle East are likely to dominate attention, as markets remain alert to any signs of further escalation between Israel and Iran.
Wall St. Prime Intel
Hedge funds net bought U.S. equities for a 6th week, though at a slower pace, while LOs turned strong buyers. Institutional exposure remains light, and CTAs show mixed signals with Russell shorts and S&P/NASDAQ longs.
In today’s Prime Intelligence we’re covering👇:
Hedge Fund Exposure
Institutional Investors Positioning
Systematic Flows CTAs
Market Technicals
Dealers, PMs, AMs Activity
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