The main US equity benchmarks moved to record highs as optimism about #earnings season overcame worries about the potential risks if centralbanks tighten monetarypolicy as economic growth loses momentum. The VIX Index fell to its lowest level since the beginning of the pandemic. Sell-side analysts are expecting overall Q3 earnings for the S&P 500 to have risen 33% YoY, down from +89% in Q2 but still the 3rd fastest growth rate since 2010. Hopes for additional US fiscal stimulus also boosted sentiment. Meanwhile, US bond yields hit five-month highs with the 10-year US Treasury yield briefly trading around 1.69%. In Europe, stocks and core eurozone bond yields also climbed. In china, stocks advanced after officials sought to calm fears about the property sector and Evergrande Group made a delayed coupon payments. Cryptos had a volatile week around the launch of the first US-based Bitcoin ETF. Commodities were mixed with copper falling while silver soared.
This marketing document has been issued by the Syz Group (hereinafter referred to as « Syz »). It is not intended for distribution to or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, issue or use. Users are solely responsible for verifying that they are legally authorised to consult the information herein. This material is intended for informational purposes only and should not be construed as an offer or solicitation for the purchase or sale of any financial instrument, or as a contractual document. The information provided herein is not intended to constitute legal, tax, or accounting advice and may not be suitable for all investors. The market valuations, terms, and calculations contained herein are estimates only and are subject to change without notice. The information provided is believed to be reliable; however the Syz Group does not guarantee its completeness or accuracy. Past performance is not an indication of future results.