RiskReversal Recap: April 15, 2024

Yields Spike, Stocks Sink

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RiskReversal Media
April 15, 2024

Today’s MRKT Call is Presented by CME Group

What Moves in Gold, Yields and the Dollar Means for Stocks with Peter Boockvar

Click here to access the charts mentioned in today’s MRKT Call.

The USD and 10-YR Yield have tracked each other near perfectly the last year, their biggest spikes in Sept/Oct of 2023 coincided with a sharp drop in the SPX. The USD 1% from its 52wk highs, 10-YR Yield appears like it wants to test 5%, the last time USD and 10yr yield were at these levels the SPX was at 4,500.

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Today’s On The Tape is Presented by CME Group, iConnections and SoFi

Death, Taxes and Higher for Longer with Liz Young and Chris Verrone

Dan Nathan and Liz Young do a pulse check on what CEOs are saying about the consumer, the correlation between yields and stocks, JPMorgan earnings, Apple’s iPhone slump, what to expect from earnings this week, Fed speak, and S&P 500 technicals.

After the break; Chris Verrone, Head of Technical & Macro Research at Strategas, joins the pod to discuss how technical analysis has evolved, the process of looking at patterns in different areas of the stock market, the biggest mistake investors make, introducing SAMM: Strategas Tactical ETF, a vibe check on the stock market, ‘A Momentous Moment’ behind Gold and Bitcoin.

WHAT WE’RE READING

  • S&P 500 and Nasdaq close 1% lower as yields jump, traders await Israel response to Iran (CNBC)

  • Fed Hiking Rates to 6.5% Is ‘Real Risk’ for UBS Strategists (Bloomberg)

  • Apple Faces Worst iPhone Slump Since Covid as Rivals Rise (Bloomberg)

  • Samsung boosts Joe Biden’s chipmaking ambitions with Texas plant upgrade (FT)

  • Big Oil Companies Warm to Biden After Years of Bad Blood (WSJ)

  • Earnings playbook: Your guide to trading the biggest reports of the week, including Netflix and Goldman Sachs (CNBC)

  • Weary Bond Traders Adopt Show-Me Mode to Avoid More Losses (Bloomberg)

  • Tesla to Cut Over 10% of Workforce in Global Retrenchment (Bloomberg)

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