Daily Archives: Jun 23, 2021 at 06:11 pm EDT

The ETF Portfolio Strategist: 23 June 2021

The Treasury market continues to price in rising expectations that the recent inflation surge is temporary. No one knows if this implied forecast will prove correct, but for the moment the moderate slide in 10- and 30-year Treasury yields reflects a crowd that’s inclined to take an ever-more skeptical view of the reflation trade, if only on the margins.

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Macro Briefing: 23 June 2021

* Will Delta variant be the source of next Covid-19 wave in US?
* Fed chairman downplays inflation risk in congressional testimony
* NY Fed president says rate hike is “still way off in the future”
* China condemns latest US warship transit through Strait of Taiwan
* US births tumbled after pandemic started
* Eurozone economy grows at fastest rate for 15 years in June via survey data
* UK growth remains strong in June as employment gain hits record high
* Japan’s economic contraction continues in June via PMI survey data
* Mid-Atlantic manufacturing activity strengthens in June
* Existing home prices in US post highest year-on-year increase on record while…
* US existing home sales fell for fourth straight month in May: