Daily Alert – Thursday 10th March 2022: Solid risk-on sentiment boosts equities

Mark NugentDaily Alert, March 2022

Daily Alert – Thursday 10th March 2022: Solid risk-on sentiment boosts equities

Good morning.

Yesterday was strongly risk-on. Equities were significantly up. Oil closed over 12 percent down on the day. That’s a remarkable price drop for a huge, globally traded commodity. The US 10-year yield was up, and both the USD and JPY fell. All of our measures of risk sentiment pointed in the same direction, i.e., risk-on.

I entered Japan225 long and WTI (oil) long.

Later today we have the ECB’s rate and statement. They were seen as hawkish at the last meeting and tried to row back on that over the subsequent days. Since then, all the inflation news has been to the upside of expectation. It will be interesting to see if the bank maintains its reluctance to raise rates, or if we see some cracks in their certainty.

Later on today we have US inflation.

I’ll be taking next week off. We will be back on Monday 21st March.

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