So this week was a pretty dry week in terms of Bond trading, Euribor was pretty much untradable, where as Short Sterling was pretty lively, mainly on Wednesday with the BoE minutes which gave indications of a rate rise early next year which pushed up Yields, and has lead to multi year highs in Cable.
Spreads remained pretty stable throughout the day with a small bid at the front end of the Curve, which made for good trading, as there was plenty of movement in the outright and so many opps to get Spreads on. Infact Wednesday was my only good day I had this week, and the other 4 days I pretty much treaded Water, making a small amount, and the Winter Olympics was grabbing my attention more then the markets for sure.
In the Equity space, it was just like 2013, buy buy buy. Any bit of weakness they preyed on it like vultures and pushed this market up. Regardless of news this market was just going one way, and just as I thought, there is very little the sellers can do to cope with the large amounts cash on the side lines and the general buy side bias. In fact I read David Tepper the big hedge fund manager has 36% of his fund in SPYs and QQQQ, which just shows buying the broader market at this moment is better then trying to individually nitpick.
Next week is likely to remain quiet as Monday is a US holiday and there is not a huge amount of data out next week after, so will try to chip away as usual.
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