June 5 Macro Trade Being Tested
Based on overnight trading the trade is sitting with a 2.3 % profit, down from 5.0 % at last weeks high for the trade.
Will update post as this important day unfolds.
What we are seeing basically is a collision course between rising FED supported Risk appetites versus rising COVID 19 cases and especially rising cases in young people.
Most important is to stay safe. I personally have had a good friend, old time commodity broker, pass from COVID recently.
Update at 11:15 AM CDT
Nothing really new on the Macro trade, shows a 2.3 % profit at the moment with no leverage. Probably the biggest thing happening is hot weather and developing drought affecting the grain markets, corn and soybeans, that is. With the FED involvement so pervasive, not sure how that will affect stocks and bonds, but is certainly a warning on unexpected inflation risks.
MY Biggest Fear..
My biggest fear at the moment is the risk taking personality of the American people. That has been a positive for economic growth for many years but COVID 19 may call its bluff with unbelievable tragedy ensuing.