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[Mtl JP]

no recession on horizon, of course not. yellen says so
–
10-yr 4485; 2-yr 4940

doom doom doom doom

[Mtl JP]

brothers n sisters … re 4.5%
Q for today:
–
what do you think: IF yield hits 4.5% will it
a) be an instantaneous hit n run like dlryen was or
b) will it break out N and run away ?

[GVI Forex 2]

US 10-YEAR TREASURY YIELD – ALL EYES ON 4.50%

This chart shows the 10-year price (inverse with yield) as the bond hovers just below 4.50%

As you can see from this chart, this is not a major level but psychologically it is important for all markets..

[Mtl JP]

WSJ has another plum today:
–
“Anger Does a Lot More Damage to Your Body Than You Realize
We all get mad now and then. But too much anger can cause problems.”

and I say : trading opportunities for those in a cool dome

[SF Monedge]

The majority of transactions in Aussie futures spanning several month have been between 6700 and 6580.  Currently at 6630 which translates to 6623.  For this day at least the market is not yet loading up on the bid again overall in volume/futures/options but likely nearing that point soon if not tomorrow or next week (more likely) in the mid-term portfolio positioning level.

[GVI Forex 2]

US400 DAILY CHART – COULD IT BE?

Could it be that the Power of “50” works in equities as well?

This is just a CFD feed but the high was 5350.

I don’t know if this works in equities, but a move and close below 5288 would be an outside day key reversal (would then need to break 5283 as well). This may be a bridge too far so just pointing out a risk.

Your price feed may be different than this one but the patterns should be similar.

[Mtl JP]

HEARD ON THE STREET – WSJ
Washington’s Pivot on Bank Rules Could Free Up Tens of Billions
By reducing additional capital requirements, banks would be freer to reward shareholders and clients.

Personally I prefer rewarding shareholders.
Clients … i.e bank depositors… can ultimately experience a bail-in to helpout wobbly banks

[SF Monedge]

Bid volume has been creeping in in chunks for about 20 minutes in stocks which is helping Euro hold the 0820 area.  Will it take hold is the question.

[Mtl JP]

Eye On Yellen
–
Bloomberg
Yellen Wants Currency Intervention to Be Rare and Well Flagged
US Treasury Secretary Janet Yellen reiterated that currency intervention should be a seldom-used tool that officials give fair warning about…

Bloomberg
Yellen Calls for United Front on Chinese Industrial Overcapacity

The New York Times
Yellen Warns Israel Against Cutting off Palestinian Banks

Financial Post
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets

WSJ
A Global Tax on Billionaires? Janet Yellen Says ‘No’
Treasury secretary came out against the proposed global levy, which proponents say would stop the rich from shifting wealth into countries where they can avoid paying the tax

[michael Calif]

Option Profile:  NQ and SP500 futures have made marginal new highs, new longs here are buying the top similar to new Silver longs on May 17

[GVI Forex 2]

USDJPY 5 MINUTE CHART – iF YOU BLINKED YOU MISSED IT

How;’s this for a 5 minute candle?

Intervention?

157.19 => 156.65 => 157.07

No idea about intervention but shows how skittish the market can be with the key 158 area, the last key level ahead of the 160.16 high

Note US yields continue to climb with 10-year at 4.49%

[SF Monedge]

Nearby forwards on Euro are bid and outside forwards are heavily being sold.  Further out picture is not strong for stocks.  This and other conditions are affecting Euro, including options/futures.

[SF Monedge]

Market activity is disjointed on the broader scale.  Nasdaq is bid due to Nvidia and other stock indices are not liking the conditions.

[Mtl JP]

when a loser rolls the dice
–
Biden Officials Debate Letting Ukraine Shoot U.S. Weapons Into Russia – NYT
proposal, pressed by Secretary of State Antony J. Blinken

[SF Monedge]

3960 Dow is very important if the larger bid bias is to hold in our opinion.

[GVI Forex 2]

S&P PMI beats on the upside, especially in services… yields up, USD up

[GVI Forex 2]

S&P PMI is out next… not as important as the ISM PMI but no data can be ignored in these hyper-sensitive markets.

[Mtl JP]

EURO 1.0859
–
Having held off attack on 1.08 (and 100dma) looks like this puppy has potential for 1.09 if it pierces 1.0865

[Mtl JP]

DLRx 104.54
–
looks like this puppy’s gains are iffy atm unless there is some sort of electrifying jolt
while under Res 104.70 tilt is down
–
15:00 – bostic yaks

[SF Monedge]

Viewpoint from here is if Euro doesn’t clear and hold 0860 Monedge may have a propensity to nurse the sell side initially for new entries.

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