US Small Caps lagged on the day but the rest of the majors struggled to gain any momentum as long gamma and low vol compressed the ranges. Some early hawkish (though nothing new) remarks from Fed's Waller ("...in the absence of a significant weakening in the labor market, I need to see several more months of good inflation data before I would be comfortable supporting an easing in the stance of monetary policy...") sparked a little risk-off but as soon as cash markets opened, BTFDers resumed their game - but could not push ahead of unch.
A late lift flattered an otherwise 'meh' day...
Source: Market Watch
Bitcoin managed to stay above USD$70k, Gold steady at USD$2,425 while Silver Silver continues to outperform gold, now at its strongest relative to the yellow metal since Dec 2022...
And that's all she wrote...
Happy Wednesday
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Andy is the founder of ANDIKA Pty Ltd, a licensed securities & derivatives dealer. He's the author of fiction and non-fiction books and has been a University lecturer on risk and investment.
