The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Equities turn positive after being down over 362pts at one stage…
– Credit Suisse strategy highlight negative real rates bullish for Equities
– TIPS yield at -2% justifies a P/E 20x or higher…. NASDAQ just 3% off its highs!!
– NZ P/E multiple back above pre COVID highs 32.4, REALLY??
* Dollar rallies especially versus EUR and GBP
* Kiwi recovers some ground along with AUD but marking time….
* NZDAUD hovers…